Wholesale prices rose by 1.1% in March, analysts had been predicting .4%, and over the past year, it has been 6.9% (I’m not doing the core rate bull sh@# for a 1 year reading, that’s enough time to smooth out the noise)

This means that there is more pressure to raise rates:

• Lower interest rates make it cheaper to accumulate stock piles of raw materials and keep them off the market.
• Inflation fears drive the dollar down.
• Low interest rates drive the dollar down.

I don’t expect any interest rate increases in the next couple of months, but we might have seen the end of rate cuts, which have pretty much stopped working anyway.