On May 14, Nick Timiraos, a Wall Street Journal reporter known as the "Federal Reserve mouthpiece," said on social media that Powell said of the April Producer Price Index (PPI): "I wouldn't call it overheated. I'd call it mixed." (PPI's main interpretation of PCE may be offset because lower airfares and health care costs may offset the hotter financial services sub-items.)
Earlier, the United States announced that its PPI monthly rate in April was 0.5%, while the expected rate was only 0.3% and the previous rate was 0.2%. This caused major mainstream assets to fall in a short period of time, the US dollar index rose, and traders also reduced their bets on the Federal Reserve's interest rate cut in September.