[Inflation Data Ends U.S. Stock Market's Calm Period, Fed Chair Kevin Warsh to Speak on Rate Hike Risks] Rising inflation data has ended the U.S. stock market's 53-day calm streak. Federal Reserve Chair Kevin Warsh is set to deliver a speech before the Fed's blackout period, with the market awaiting his insights on how the Fed balances inflation risks with gradual rate hikes (Source: Jintou Data). AI Interpretation: The hotter-than-expected inflation data has shattered the market's illusion of price stability, decisively ending the prolonged low-volatility phase of the U.S. stock market. This data underscores the persistence of inflation, forcing the Federal Reserve to reassess the necessity of tightening policies. Optimistic expectations for rate cuts have been severely dampened, and capital is rapidly shifting toward defensive assets to hedge against policy uncertainty. Statements from Federal Reserve officials will become the key driver of subsequent market fluctuations, with the policy focus now clearly shifting toward combating the resurgence of inflation.