Wu Shuo learned that according to Wall Street Journal reporter Nick Timiraos, Federal Reserve Governor Chris Waller has expressed a more dovish stance compared to other officials. He proposed two policy response paths under tariff scenarios: if the average "high tariff" scenario of 25% is maintained, core PCE inflation may rise to 4% to 5%. If tariffs cause a significant economic slowdown and threaten an economic recession, he tends to cut interest rates early even if inflation is above 2%; In the "low tariff" scenario where only 10% tariffs are retained, the peak inflation is about 3% annualized, with weaker impact and slower transmission. If core inflation continues to decline, the Federal Reserve will consider cutting interest rates in the second half of the year. https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=40944