I don't think there is anything groundbreaking here but WSJ Fedwatcher Nick Timiraos is out with a report on what the April CPI report means for the Fed.
- It will allow the Fed to hold more comfortably in June
- It will likely take "another two" reports to shore up officials confidence that inflation is heading to target
- The Fed might not be ready to cut before Sept
- The report is likely to tamp down fears that the Fed would shift to a more neutral stance (from dovish)
The US dollar is softer today and S&P 500 futures are up 0.4%.
