Tomorrow at 11:30 AM, Fed Chair Walsh is set to speak. He’s probably facing a lot of dilemmas, as we can see from the statements made by other Fed officials today about the current challenges the Fed is dealing with. Rising energy prices and AI data center construction are both driving U.S. inflation higher. Continuous rate hikes are increasing financing costs for data centers, potentially triggering a debt crisis and ultimately slowing down data center construction, which could significantly raise the likelihood of a U.S. economic recession. Walsh doesn’t dare to go full hawk right now.