The US government recorded a budget surplus of $27 billion in June, the first monthly surplus since 2005. Many people may have seen this news. Although high tariffs bring fiscal surplus, their side effect is the upward pressure on input costs, which may push up CPI again in the future. If inflation expectations rise, the Federal Reserve will be more cautious in cutting interest rates, which will put Trump in a dilemma of uncoordinated monetary policy, that is, the current situation.