Wall Street is experiencing a subdued trading session, with all major indices showing minimal movement around midday in New York. The latest producer inflation data provided mixed signals ahead of the highly anticipated consumer inflation report on Wednesday. Fed Chair Jerome Powell reiterated his outlook that U.S. monetary policy will maintain its current rate for a longer period than previously anticipated, dismissing fears of new rate hikes. President Joe Biden announced significant tariffs on Chinese imports, imposing 25% on steel and aluminum, 100% on electric vehicles made in China, 25% on EV batteries, and a 50% tariff on semiconductors from China. The U.S. dollar index (DXY), the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP), fell 0.2% negatively reacting to producer inflation readings and Powell’s remarks. Treasury yields slightly softened, with traders holding expectations of two Fed rate cuts by year-end. All major indices such as the S&P 500, the Dow ...