Analyst: The minutes of the Federal Reserve meeting have long indicated that it is not easy for inflation to fall back

Quincy Krosby, Chief Global Strategist of a financial company in North Carolina: Although overall inflationary pressures have decreased, they stubbornly remain higher than expected because the so-called "last mile" requires more time to reach the ultimate goal. The recent minutes of the Federal Reserve's meeting have emphasized that the path to price stability remains uncertain. Today's CPI report indicates that the Fed's first interest rate cut may be later than what the market hopes for.