More from Feds Williams: Fed could cut rates in 2024/2025 to reflect lower inflation

• It is possible Fed cuts rates in 2024 and 2025 to reflect lower inflation
• there is a risk that inflation stays higher-than-expected
• will need restrictive rates for some time to call inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term
• it is a risk that the Fed may need to raise rates higher than currently expected
• Outlook for year-end Fed funds rate between 5% and 5.5%

Williams is the president of the New York Fed and as such always has a vote on policy.

Going into the US stock close, the NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is pushing toward its high for the day. The index is currently up 85 points or 0.72% at 11976. The high price reached 11999.85 – just short of the 12000 level.

The S&P index is up about 6.5 points or 0.16% at 4143.32.

The Dow Industrial Average is still down by -80.75 points or -0.24% at 34163. The biggest Dow winner is Boeing which is up 1.57%. Chevron is up 0.92% and Nike is up 0.90%.

Big winners today include:

• Palantir which showed at first positive earnings-per-share. It's shares are up 21.80%
• Tesla +7.7%
• Snowflake up 5.83%
• Nvidia up 5.52%
• Uber up 5.5%

Year-to-date:

• Tesla shares are up 70% on the year.
• Nvidia shares are up 57.37%.
• Palantir shares are now up 43.77% and
• Uber is up 42.58%
• Snowflake is up 19.6%