Jobless claims remain stubbornly high, suggesting job growth remains muted despite an economic recovery.
Inflation remains under wraps, falling at the headline level but rising a tepid 0.14% at the core (ex-food and energy) level.
The US current account gap for Q1 was a bit narrower than expected at $109 bln. The market expected $121 bln. Q4 was revised lower to $101 bln from the previous $116 bln estimate.
Bottom line: Fed lower for longer.
