ECONOMISTS ARE RAISING THE US TO 3.4% OF CPI INFLATION THIS YEAR

ACCORDING TO THE WALL STREET JOURNAL SURVEY, ECONOMISTS EXPECT CONSUMER PRICE INDEX (CPI) INFLATION TO BE 3.4 PER CENT IN THE UNITED STATES THIS YEAR, UP FROM 3.2 PER CENT IN THE APRIL SURVEY. THE INCREASE IN INFLATION EXPECTATIONS IS A DIRECT REFLECTION OF THE PERSISTENCE OF THE PRICE FALL PROCESS, BREAKING THE MARKET ' S ILLUSION OF A RAPID RETURN TO INFLATION. THIS AMENDMENT FORCED THE FEDERAL RESERVE TO SIGNIFICANTLY INCREASE THE NEED TO MAINTAIN A TIGHT MONETARY POLICY, WHICH WOULD INEVITABLY EXTEND THE DURATION OF THE HIGH INTEREST RATE ENVIRONMENT. THE MARKET ' S PRICING LOGIC OF THE INTEREST RATE DECLINE DURING THE YEAR HAS BEEN RE-ENGINEERED, AND ASSET PRICES WILL FACE EVEN MORE SEVERE VALUATION PRESSURES. THIS CLEARLY DECLARED THAT THE ANTI-INFLATION CAMPAIGN HAD ENTERED DEEP WATERS AND THAT THE WINDOW PERIOD FOR POLICY SHIFTS HAD BEEN FURTHER COMPRESSED。