The US April CPI and PPI data are set to be released at 20:30 Beijing time on May 12 and May 13. The market expects energy prices to be affected by the Middle East situation, with the CPI forecasted to rise another 0.6% month-over-month. Goldman Sachs has pushed back its rate cut expectations to December 2026 and March 2027, also suggesting that core PCE might be closer to 3% rather than the Federal Reserve's 2% target. Previously, the April non-farm payroll report showed an addition of 115,000 jobs, significantly surpassing expectations and marking the largest two-month growth in two years. Nick Timiraos noted that half of the institutions now predict no rate cuts this year. This week, Kevin Warsh’s nomination as Federal Reserve Chair will face a final vote, while Chair Powell's term ends on May 15, after which he will remain a Fed governor. Where will the Fed's monetary policy go? Will there be any rate cuts this year?