[Wells Fargo: March Core Inflation in the U.S. Will Be This Year's Low Point] On April 10, Wells Fargo economist Sarah House provided insights ahead of the March CPI: The CPI data for March may appear somewhat lagging. However, it should give us an understanding of how the changing trade environment is beginning to affect prices. Due to tariffs accelerating price increases, March seems set to become the low point for this year's core inflation. Coupled with growing concerns about a self-inflicted economic recession in the U.S., this keeps the Federal Reserve in a "wait-and-see" mode regarding interest rates. Although there remains much uncertainty about the duration of these tariffs, their transmission effects, and second-round price impacts, the trend is clear. The current trade policy "poses new challenges for controlling inflation." For over a year, the Federal Reserve's last stage of fighting inflation has been fraught with difficulties, highlighting the challenge of completely eliminating inflation without significantly weakening demand.