According to Jinshi, Deutsche Bank expects the Fed to lower its expectations for rate cuts due to high inflation and a strong labor market. The dot plot may indicate that rate cuts may be possible before the election, depending on improved inflation or weaker labor market data. Core PCE inflation expectations may rise to 2.8%, causing the dot plot to lower the number of rate cuts this year from three to two. Powell may emphasize data dependence and caution on inflation, while acknowledging the balance of the labor market. The May CPI report may affect these signals.