The market is digesting a dozen or so economic reports Wednesday morning as it awaits comments from Jerome Powell at 1:30 pm ET. The reports were a mixed bag that reflected some economic slowing but job openings remained strong, and the Fed's preferred inflation measure was a bit higher than expected. The overall verdict of the data is that there is some slight improvement in inflationary pressures, and the economy is slowing, but there isn't enough progress to cause the Fed to change its current course of action.