Securities Times e-Company News: According to a research report by CICC, the US CPI in December 2023 increased by 3.4% year-on-year (previous value of 3.1%), while the core CPI increased by 3.9% year-on-year (previous value of 4.0%), both higher than expected. The overall direction of inflation in the United States is still slowing down, but the pace is highly uncertain, which means that the Federal Reserve's monetary policy will be full of variables. If the Federal Reserve turns to easing too early, it may lead to an already decent rebound in demand, increasing the risk of economic "non landing" and "secondary inflation". Therefore, investors should be more cautious about their expectations of interest rate cuts. The Federal Reserve may not cut interest rates in March as the market hopes, and the expectation of six rate cuts throughout the year may also be too aggressive.