Will Powell "fly eagle" tonight?

Some even believe there will be no rate cut this year.

Currently, analysts are debating whether last week's troublesome inflation data will sound the death knell for the Federal Reserve to cut interest rates in June. Regardless of the outcome of the meeting, however, there is no doubt that the latest data may not bode well for those anticipating an imminent dovish turn from the Fed.

Last Thursday (14th), the producer price index (PPI) released by the United States was higher than expected, while the consumer price index (CPI) released two days ago also exceeded expectations. The data came in quick succession, dampening confidence that the Fed would soon begin cutting interest rates.

On the other hand, although there are signs that U.S. economic growth is slowing, they are not enough to raise concerns that the Federal Reserve needs to cut interest rates to offset the threat of rising recession risks, which remain low.

Meanwhile, the probability of the Fed cutting interest rates at its June 12 meeting is expected to be about 60%, according to federal funds futures. The probability is down from 70% two weeks ago.