According to a report by Jin Shi, the Federal Reserve's Musalam stated that the United States is not currently experiencing stagflation, and financial conditions are supporting economic activity. As long as market expectations remain stable, monetary policy can effectively respond to labor market weakness, but attention should be paid to downside risks such as reduced working hours and wages. Enterprises are generally unwilling to lay off employees, and the recruitment trend is more relaxed than before. Long term inflation expectations have been anchored, and maintaining their stability is crucial. The impact of tariffs may not fully manifest until later this year or early next year, and the depreciation of the US dollar may push up inflation. High profit margins can partially absorb tariff pressure. Recently, inflation has shown positive performance, but in the future, due to rising tariffs, the overall economic situation is good, the labor market is close to full employment, and there is still an upward risk of inflation.
