• Comments from Fed officials including the vice chair of the rate-setting Federal Open Market Committee, New York Fed President John Williams, acknowledged the positive turn this week when U.S. government agencies reported that consumer prices rose more slowly than expected in April, and that retail spending had not increased at all during the month in a possible sign consumers are pulling back.
• “I don’t see any indicators now telling me … there’s a reason to change the stance of monetary policy now,” Williams said in an interview with Reuters, adding that he did not expect the case for a rate cut to fall into place “in the very near term.”

https://www.reuters.com/markets/us/fed-remains-cautious-cuts-even-data-improves-2024-05-16/