【 Falling below 3? Key inflation indicators in the United States: Will the Federal Reserve's "firefighting" of interest rate cuts be effective? 】 This Friday, the United States is about to release the November Personal Consumer Expenditure Price Index (PCE). Against the backdrop of rising expectations for interest rate cuts, the outside world is closely monitoring whether the data can further slow down. According to institutional forecasts, the US PCE is expected to drop to 2.8% in November, marking the first time since 2020 that it has fallen below 3% and ushering in a new milestone. At the just concluded December interest rate meeting, the Federal Reserve's economic outlook slightly lowered its inflation forecast for the next two years, which also provided a signal for the next policy shift. Although recent Federal Reserve officials have repeatedly hinted that lowering interest rates is still distant, the difficulty of managing future policy expectations may escalate.