#CPI&JoblessClaimsWatch U.S. inflation cooled unexpectedly in March (CPI -0.1% MoM, 2.4% YoY), the first decline since 2020, driven by falling energy and used car prices . However, this "calm before the storm" may reverse as Trump’s new tariffs (e.g., 125% on Chinese goods) take effect, with economists forecasting a 0.8-ppt inflation surge ahead . Meanwhile, jobless claims rose marginally to 223K, reflecting a still-tight labor market, though layoffs in manufacturing (e.g., Kentucky) hint at tariff-driven pressures . The Fed faces a dilemma: cut rates amid softening demand or brace for tariff-fueled inflation