After the release of the CPI data, the market's expectations for the Federal Reserve's interest rate cut have changed. According to the latest data from the CME FedWatch tool, while the market currently believes that the Federal Reserve is highly likely to maintain the current interest rate unchanged in May (69.1%), the probability of a rate cut of 25 basis points in June has risen from 49.7% a month ago to 61%. The probability that the rate will remain unchanged in June is only 14.5%, which is even lower than the probability of a 50 basis point cut in June (24.4%).