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Beyond that, the potential impact of the Middle East situation remains unclear.

Employment growth has remained low, with the unemployment rate generally stable. The slowdown in the growth of the employed population to some extent reflects the decline in immigration (caused by U.S. President Trump). Labor demand has also clearly become more moderate. Consumer spending has remained solid. CPI-based forecasts indicate that the U.S. PCE rose by 3.5% in March. Business fixed investment is expanding at a relatively fast pace. The housing market remains weak.

According to Golden Ten Data on April 30, analyst Audrey stated that, given the recent strong economic performance and the continued upward trend in inflation caused by rising energy prices, the "markedly hawkish" shift by some FOMC members is reasonable. "From the perspective of the US dollar," she said, "this indicates that bearish expectations driven by Federal Reserve policy and factors such as yields are incorrect, and also confirms that the bullish price trend so far is justified."