• There are still two more inflation readings before the July meeting
  • A 50 bps rate hike isn't off the table
  • Rate hike will only be on the table in July, not June

The remarks are more of a push to try and tiptoe towards a 50 bps rate hike come July. Yup, he's just gone out to explicitly say that now. It's no surprise given that Knot is one of more hawkish members. That said, this isn't quite a view shared by the overwhelming majority for the time being though.