According to Jin10, citing Federal Reserve communications, as of May 21, U.S. central bank officials have largely stopped discussing rate cuts and have begun seriously considering the possibility of rate hikes. Nick Timiraos, known as the “Fed’s mouthpiece,” pointed out this shift in policy focus. The minutes from the April Federal Open Market Committee meeting showed that most participants emphasized: if inflation continues to remain above the 2% target, further tightening of policy may be necessary.