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Stan Rogers Folk Festival 2024: 27 years of music and community | SaltWire #festival #music #nsWall Street looks set to end the shortened week slightly punch drunk, with Friday's May inflation update set to be a decider after a slew of conflicting economic data signals and the latest election twist.
Without signalling any urgency in cutting rates, New York Fed boss John Williams said rates would be cut"at some point". Dallas Fed chief Lorie Logan reiterated that it was still"too soon" to be thinking about easing. There was no obvious market reaction to the potentially seismic political news overnight that Donald Trump became the first U.S. president to be convicted of a crime. A New York jury found him guilty of falsifying documents to cover up a payment to silence a porn star ahead of the 2016 election.
While the update is unlikely to cut across the European Central Bank's expected quarter-point interest rate cut next week, full-year ECB easing expectations slipped back further to 55 basis points.
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