PPI Plunges

April PPI joined CPI in reflecting the severe economic pressures building in the US, dropping 1.2% YoY.  Even stripping out food, energy and trade, producer prices fell 0.9% MoM and 0.3% YoY. The cost of goods fell 3.3% MoM, the biggest decrease since 2009.

Powell’s comments at the Peterson Institute will get underway shortly. A preview of his prepared statement suggests his mood will be somber and his optimism tempered by the realities of the pandemic.

Algos are anxious to hear whether he can promise anything more impactful than “whatever it takes.” The overnight bounce has probably run out of steam.

continuing for members


Sorry, this content is for members only.

Click here to get access.


Already a member? Login below

Remember me (for 2 weeks)

Forgot Password