Latest data shows that the US core CPI has fallen to 2.6%, hitting a new low since March 2021. This is another sign of the continued decline in inflation.

What is the market waiting for now? The Federal Reserve's move. Currently, the probability of the Fed maintaining interest rates this month is as high as 95%, but the key question is: when will the next move come?

Trump has recently been pressuring Fed Chair Powell to accelerate the pace of rate cuts. However, market expectations are more cautious—most traders bet that rate cuts will not start until at least June.

The December non-farm payroll report also confirms this cautious attitude. Employment data was below expectations, while overall inflation remains stable at 2.7%. From the data, the Fed has room to ease but is not in a rush for now. This uncertainty actually provides more opportunities for market volatility. For investors, the key in the near term is to keep an eye on the Fed's attitude signals.