Nick has started giving orders again, and the message conveyed in this post is that if inflation rises this summer, the Federal Reserve will continue to wait and see, but if employment slows down, the Federal Reserve may cut interest rates early. So if we think in reverse, wouldn't it be possible to cut interest rates if the final tariff war didn't cause prices to rise? After all, these two days of intensive articles have been expressing the idea that a late reduction and tariffs may not necessarily lead to an increase in inflation. But if we delve deeper, the recent lack of price increases may be due to the previous tariff war, which led businesses to stock up and hoard inventory in advance. There is still a possibility of price increases when inventory is depleted. Listen carefully, this is actually laying the groundwork for an early interest rate cut or hedging against the widely expected September interest rate cut in the market, after all, there are still three months left, which is a bit too long. The market needs some shot in the arm to get through these difficult three months. Moreover, the tariff war did not actually last too long, and the market elasticity has enough redundancy to digest. So whether he's just drawing a big cake or revealing it in advance, this overall is good news that the interest rate cut may be advanced.