ChainCatcher news, CICC's research report states that the U.S. core and total CPI inflation both fell in February, both below market expectations.From a breakdown perspective, oil prices and airfare prices have significantly cooled, reflecting weakened economic demand. Overall, rent remains moderate, and the increase in core commodity prices has slowed. Looking ahead, CICC believes that the slowdown in demand is conducive to curbing inflation, and the real estate and labor markets may not become sources of inflation by 2025. However, tariffs may push up short-term price levels, enhancing the stickiness of inflation. The Federal Reserve will not rush to cut interest rates and will wait for clarity on tariff policies before taking action. CICC maintains its previous judgment that the next rate cut may have to wait until the third quarter.