Investors were closely watching the reading for any indications on when the Federal Reserve may begin cutting interest rates.
The latest reading of the Fed 's preferred inflation gauge showed inflation slowed in April as prices increased in line with Wall Street expectations.
Fed officials have repeatedly said they're waiting for greater confidence in inflation's decline before it would be appropriate to reduce interest rates."I see some of the recent inflation readings as representing mostly a reversal of the unusually low readings of the second half of last year, rather than a break in the overall downward direction of inflation," Williams said in a speech at the Economic Club of New York.
Michael Cohen, in his first live television interview since Donald Trump was convicted Thursday on all 34 counts of falsifying business records, criticized the strategy of the former president’s lawyer, Todd Blanche, whom he dubbed a “SLOAT: Stupidest Lawyer of All Time.”Cohen’s remark on MSNBC was in response to the way Blanche, in his closing argument Tuesday, described Cohen as the “GLOAT: Greatest Liar of All Time.
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