According to Jinshi, the PCE data release on April 26 may have eliminated some potential downside risks from the market through the GDP data released yesterday, so this may reduce the risk of this data release. Overall, this set of data does not increase the idea that the Fed will have to raise interest rates, but it certainly does not shift the discussion to the question of "the Fed will keep interest rates higher for a long time." On the positive side, this data does not increase the Fed's confidence that inflation is moving in the right direction. But it does not necessarily increase their confidence that inflation can sustainably move towards the 2% target.