I am glad that many friends have realized that the inflation in March does not include the 10% base tariff in April. This is a good thing, indicating that everyone is paying good attention to tariffs. However, it should be noted that the inflation in March includes the data of 20% additional tariffs on China. Therefore, the deflation shown in this data represents the economic slowdown that occurred after the additional tariffs were imposed on China. In May, we saw the inflation data for April, which already included the 10% base tariff of other countries and the 145% tariff of China. This may cause more obvious deflation in monthly income, as prices are too high and users have reduced their purchases, representing an economic downturn. Therefore, the market expects the Federal Reserve to cut interest rates in June, which is not a good news. Just like today's drop in inflation but with the risk of a market downturn, because the expectation is that the economy will experience a recession. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex