The market generally expects that the Federal Reserve will wait at least two months for tariff impact data before the June interest rate meeting. During this period, whether the core PCE can fall below 2.5% and whether employment and consumption data will significantly weaken will become important criteria for determining the timing of interest rate cuts. The Chicago Mercantile Exchange's 'FedWatch Tool' shows that the market expects only a 25% chance of a rate cut in May, with the first rate cut expectation pushed to July, and the expected number of rate cuts for the year reduced from three at the beginning of the year to two.