- 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
- 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 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%