US April PCE core inflation 4.7% vs 4.6% expected

• Prior was +4.6%
• PCE core MoM +0.4% vs +0.3% expected
• Prior MoM +0.3%
• Headline inflation PCE +4.4% vs +4.2% prior
• Deflator MoM +0.4% vs +0.1% prior

Consumer spending and income for April:

• Personal income +0.4% vs +0.4% expected. Prior month +0.3%
• Personal spending +0.8% vs +0.4% expected (prior +0.0%)
• Real personal spending +0.5% vs 0.0% prior

Inflation is a problem and the consumer remains red hot. The Fed is going to hike again and now the odds are 53.47% for June.