According to a report by Jin Shi, Federal Reserve Chairman Powell gave a speech on the economic outlook, stating that progress towards achieving our 2% inflation target has slowed down recently. In the 12 months ending in February, PCE total prices increased by 2.5%. Core PCE prices, excluding volatile food and energy categories, increased by 2.8%. Looking ahead, higher tariffs will play a role in our economy and may increase inflation in the coming quarters. From most indicators, long-term inflation expectations (inflation expectations for the next few years) remain well anchored and aligned with the 2% inflation target. We remain committed to sustainably restoring the inflation rate to our target of 2%.
