As Consumer Price Index (CPI) data for April fell mostly in line with expectations, many on Wall Street are once again speculating about how the Federal Reserve may adjust its monetary policy.

RBC Capital Markets Head of US Rates Strategy Blake Gwinn joins The Morning Brief to discuss how the recent CPI print may affect the Fed's decision making.

"I think it's very much kind of a Goldilocks, kick-the-can type of print for the Fed. But I think the retail sales, the softness we saw there certainly a bit of relief for the Fed and I think it's what markets wanted to see to kind of continue, this very, very modest rally that we've seen over the last week."

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This post was written by Nicholas Jacobino