Federal Reserve speaker Nick Timiraos: Core PCE is expected to rise by about 0.13% in April.

Nick Timiraos, a Wall Street Journal reporter known as the Federal Reserve's mouthpiece, said in a post on social media that the sharp decline in portfolio management services in the producer price index (PPI) in April is expected to lead to another mild core PCE inflation reading. Core PCE growth is expected to be around 0.13% in April. However, the year-on-year growth rate of core PCE is expected to remain at around 2.6% due to the possible upward revision of March data.