Report: US PPI data expected to reinforce the Fed's wait-and-see stance.

In a report by Steve Rick of TruStage, he stated that the lower-than-expected PPI report is a welcome development for the Federal Reserve. The chief economist said, "This will indicate that inflation may be gradually approaching the Fed's target and could solidify policymakers' ability to stand pat rather than consider further rate hikes." He said that while the battle against inflation is not yet over, softer price data will be another step towards achieving a better balance between price stability and a healthy labor market.