[DBS Bank: Core CPI May Further Slow Down, Dollar Rally Faces Test] According to a report by Jin10, DBS Bank analyst Philip Wee stated that Federal Reserve's Williams supports another rate hike before the end of 2026 but is reluctant to endorse the market's pricing for further tightening in 2027. Williams also reminded the market that the Federal Reserve remains data-dependent rather than 'relying on a single data point.' Monetary policy will be guided by the potential inflation trajectory over the next 1 to 2 years, rather than individual data releases. In this context, today's CPI report should focus more on core inflation, which is expected to slow from 0.3% to 0.2%. Williams believes that the forces driving inflation downward remain intact, with price pressures mainly concentrated in the AI and energy sectors rather than spreading across the broader economy. He sees little evidence of labor market-driven inflation or signs of an overheating U.S. economy.