**[Next Week's Macro Outlook: CPI Data Incoming, May Further Confirm the Rationality of the Fed's Rate Cut Cycle]** BlockBeats News, December 13 — Although the Federal Reserve cut interest rates as expected this week and released more dovish signals than anticipated, the challenges faced by the artificial intelligence sector have led to a complex and divergent performance in U.S. stock and bond markets. This week, long-term U.S. Treasury yields broadly rose, with the 10-year Treasury yield increasing by approximately 5 basis points during the "Fed rate cut week." The macro outlook for next week is as follows: - **Monday 22:30**: Federal Reserve Governor Milan delivers a speech; - **Monday 23:30**: Permanent FOMC voter and New York Fed President Williams speaks on the economic outlook; - **Thursday 01:30**: 2027 FOMC voter and Atlanta Fed President Bostic speaks on the economic outlook; - **Thursday 21:30**: U.S. November unadjusted CPI year-over-year/core CPI year-over-year, U.S. November seasonally adjusted CPI month-over-month/core CPI month-over-month; - **Thursday 21:30**: U.S. initial jobless claims for the week ending December 13; - **Friday 23:00**: U.S. December University of Michigan Consumer Sentiment Index final reading, U.S. December one-year inflation expectations final reading. Next week's U.S. CPI data release will be a key turning point for the dollar's trajectory. If the CPI data comes in below expectations (the latest figure is currently 3%, still above the Fed's 2% target), it will further confirm the rationality of the Fed's rate cut cycle, potentially putting additional downward pressure on the dollar. Conversely, if the data exceeds expectations, it may reverse this trend.