Stocks have come off session lows as comments from a Federal Reserve official brought some relief to traders concerned about the odds of an even more aggressive pace of rate hikes plunging the economy into a recession. In fact, the S&P cut its drop by half at one point after fed governor Christopher Waller said he supports a 75 basis point hike in July, but could vote for more aggressive action if data show further inflation risks. Traders reduced bets slightly on a 100 basis point move after his remarks. The Bloomberg dollar spot index trimmed games after touching a record while the two year yield reversed its advance. Cleveland fed president Loretta mester tells Bloomberg, there's a lot of data to consider before jumping to a 100 basis point rate hike. There's more data coming out that I'm going to be very attuned to. We have retail sales coming out on Friday and we have a very important University of Michigan report and of course that's important because it has the place expectations measure a consumer measure in there. So, you know, we have data coming out. What I take from the report and it was uniformly bad. There was no good news in that report at all. Was that inflation remains unacceptably high level? S&P 500 is down 1.3% down 48. The Dow is down 1.3% down 405, and the NASDAQ is currently down 1.1% down a 121. The ten years down 1530 seconds with the yield of 2.99%. West X intermediate crew is down one and a half percent 94 90 a barrel comic skulls down 1.8% at 1704 30 and ounce. The dollar Yan one 39 O 8, the Euro just over a dollar in the British pound at dollar 1801. That's a Bloomberg business flash. Balance of power continues. On Bloomberg radio. This is balance of power on Bloomberg television and radio. I'm