New York Fed President Williams (24-year voter, dovish) welcomed the inflation data but is not ready to seek a rate cut. Williams said that while the latest economic data should not be overemphasized, the cooling of the CPI in April was a positive development after disappointing data in previous months. However, it is still not certain that price pressures will continue to move toward the Fed's 2% inflation target, so there will be no rate cut for the time being.

Cleveland Fed President Mester (24-year voter, hawkish) said that maintaining the US central bank's policy at the current level will help get the still-high inflation rate back to the 2% target. Inflation risks have risen, while the risks of weak growth and hiring have weakened, which means that with a strong economy, the Fed has room to look for more evidence that inflation is returning to the target before cutting rates. Mester said the lack of progress in reducing inflation was "disappointing," adding: "I now think it will take longer to get to the 2% target than I thought before." She also said that the softer inflation data at the consumer level in April was a welcome thing.

When the interest rate will be cut at the macro level is very important for the market trend, especially the crypto market, so everyone has paid close attention to it recently. At present, it is basically impossible to cut interest rates before September. The next two months will depend on the macro data in June, July and August. If the performance is ideal, there is a high probability that the interest rate will be cut in September. Everything depends on the data.

#5月市场关键事件

#美国4月CPI数据回落