Core Viewpoint - The Federal Reserve's Bostic indicates that inflation risks persist due to companies being unable to delay price increases driven by tariffs [1] Group 1 - Companies are facing pressure to raise prices as tariff-related costs cannot be postponed any longer [1]

Group 1 - The Federal Reserve is undergoing a significant shift in its monetary policy framework, particularly regarding its inflation targets and employment gap response strategies, indicating potential upward pressure on long-term interest rates [1][3] - The adjustment to the "average inflation target" framework suggests that the Federal Reserve is willing to take on more risks to boost employment growth, even if it means tolerating higher inflation [3] - The mention of "tariff-driven price increases" as a new inflationary factor indicates that the Federal Reserve is preparing for potential escalations in trade tensions, reflecting a need for policy flexibility [3] Group 2 - The A-share market has experienced rapid rotation of hot stocks, with the index showing an approximate 10% increase since a significant drop on April 7, yet investor returns have not improved correspondingly [3] - The primary reason for this discrepancy is frequent "wrong stock selection and misoperations," where investors mistakenly believe they are buying at a low point, only to see prices continue to decline [3][5] - Institutional participation is crucial for stock price increases, as evidenced by contrasting performances of two stocks that appeared similar in price movement but had different institutional involvement [4][10]