Deep Tide TechFlow message: On April 7, the New York Fed chair Williams said that the impact of the Iran war will push up overall inflation, and the inflation factors it triggers will be directly reflected in the overall inflation data. Considering energy factors, the inflation rate should be around 2.75%. The current focus is on overall inflation, and core inflation has not changed much. Tariffs are still an important factor driving inflation, and overall inflation is expected to slow later this year. Monetary policy is currently in a favorable position, so a wait-and-see approach can be adopted. Interest rates are currently at a suitable level, and can be adjusted if necessary. The labor market situation is quite complex and is characterized by low hiring and low layoffs. (Jin10)