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📊 What Does May CPI Mean for Next Week's Fed Meeting? According to Nick Timiraos of The Wall Street Journal—often referred to as the Fed's unofficial spokesperson—the latest CPI report does little to settle the debate ahead of next week's FOMC meeting. 🔸 Core CPI rose just 0.2% MoM, below expectations of 0.3%. However, a single softer inflation reading is unlikely to change the Fed's stance, especially with headline CPI still running at 4.2% YoY. 🔸 For policymakers to gain confidence that inflation is sustainably cooling, they will likely need to see a broader trend of weaker price pressures rather than one encouraging monthly report. 🔸 At the same time, inflationary pressures are evolving. While tariffs were previously a key concern, markets are now also grappling with higher energy costs and massive AI infrastructure investment, both of which could keep upward pressure on prices. 🔸 As a result, markets expect next week's meeting—Kevin Warsh's first as Fed Chair—to maintain a hawkish tone 🦅. The debate is likely to center on keeping rates higher for longer, with some participants even leaving the door open to further rate hikes if inflation remains persistent. $BTC $SOL $ALLO #DailyOrbit