Odaily News Seema Shah, an analyst at Principal Asset Management, said today's U.S. CPI report brought some much-needed relief to the stock market, avoiding immediate concerns about stagflation and providing room for the Federal Reserve to cut interest rates. But she warned that "the stock market is unlikely to fully enter the happy mode of the Fed cutting interest rates." "It is worth remembering that this may be the calm CPI report before the storm. Not only does the Fed need to wait for clarity on tariff policy, but once tariffs are implemented, they may bring at least some price increases, and the inflation situation may become worse over time. The Fed and the market are not clear at the moment how this will develop." (Jinshi)