🚨🔊 Jerome Powell states in speech today that he does not "think it's likely that the next move would be a rate hike, more likely that we would hold policy rate where it is."
The Fed chair also commented on todays PPI figures, saying the "reading was quite mixed."
Overall, his comments have calmed the markets and dissipated hawkish sentiment following the hotter-than-expected PPI figures for April.
Attention is now set on tomorrow's CPI figures.