On April 1st, Jinshi Data reported that Federal Reserve Chairman Schmid warned on Tuesday that rising energy prices should not be assumed to have only a short-term impact on inflation, as inflation was already close to 3% even before the Iran war caused oil prices to surge, and the Fed's progress toward its 2% inflation target has stalled. Schmid stated, "I don't think we can be complacent about the risks to inflation expectations." He also pointed out that while most measures of medium- to long-term inflation expectations have remained stable, this does not offer much comfort. "Our task now is to take appropriate policy action to confirm these expectations." Schmid did not specify what particular policy measures he was referring to, but he opposed the Fed's decision to lower interest rates twice last year. Last week, financial markets reflected a growing belief among investors that rising oil prices might force the Fed to raise interest rates later this year to prevent inflation. However, this week, market sentiment has shifted to the view that the Fed will maintain interest rates.