📉 Macroeconomic Focus｜Tariff Extension Becomes a Variable, CPI Below Expectations, Trump Pressures for Rate Cuts
U.S. Treasury Secretary Mnuchin hinted that as long as there is sincerity in negotiations, the U.S. is willing to extend the 90-day tariff suspension period beyond July 9, with negotiating partners including the EU and 18 other major trading partners. On the other hand, the U.S. May CPI year-on-year growth rate was 2.4%, slightly below market expectations, prompting Trump to once again pressure the Federal Reserve, demanding a 100 basis point rate cut. He emphasized that the U.S. economy is under pressure and criticized Chairman Powell as a "disaster." Although the market generally expects the Federal Reserve to keep interest rates unchanged in June (with a probability of 97.6%), the monetary policy path in the coming months may vary due to political interference and changes in inflation.