3.8%! U.S. Inflation "Weight Loss Failure," Powell's Expression Can't Hide It Anymore

U.S. CPI rose 3.8% year-over-year in April. After seeing the data, Wall Street collectively entered a "Schrödinger's Happy" state: feeling it's okay, yet also feeling it's not quite right.
It's like you've been dieting for three months—good news is you've lost 1 pound, bad news is you still can't fit into your pants.
Who is the most embarrassed? Of course, Federal Reserve Chair Jerome Powell. Over the past year, he's been aggressively raising interest rates, almost bald from talking so much: "We will definitely bring inflation back to 2%!"
But now, inflation is like a rebellious teenager—promising one thing, but doing the opposite in action.
The market originally expected at least three rate cuts this year, but now it's become:
"Three? If we get one, it’s like a graveyard sprouting green shoots."
U.S. bond yields jump to high levels, the dollar remains strong, and global capital begins to realign. The most uncomfortable are emerging market countries: as the dollar rises, funds flee as quickly as clocking out after work.
And American consumers are gradually entering a "refined poverty" stage. Can't afford Starbucks, but must finance new Apple products; takeout is too expensive, but travel must be shared on social media. The most amazing thing about the U.S. economy is: everyone shouts poverty, yet consumption data is ridiculously strong.
Why?
Because Americans' core economic logic is:
"The future me will solve the current problems."
Credit card companies are moved to tears after hearing this.
This CPI also reveals a key point: service sector inflation remains stubborn. Especially rent and healthcare, prices simply won't come down. In plain terms, U.S. inflation is no longer just "oil prices are high," but a comprehensive rise in social cost structures.
Capital markets are also starting to reprice:
AI continues to rise because the market believes technology can make money;
Traditional consumption is under pressure because people's wallets are quickly running out;
Gold is strong because everyone is increasingly worried about dollar credibility.
Bitcoin continues to act as a "financial mental state detector"—whenever the market gets tense, it begins to twitch violently.
Many ask: will the U.S. experience a "soft landing"?
Now it looks more like a "bungee jump landing"—theoretically safe, but the process is terrifying.
This 3.8% CPI actually indicates one thing:
The U.S. economy isn't catching a cold; it's just running a high fever that won't break. #美国4月CPI上涨3.8%