Reuters
New York Fed President John Williams, citing economic strength,said on Thursday he does not see a convincing case for cutting the central bank's policy rate now. "Markets are still recalibrating what 'higher for longer' means and whether or not there will be any interest rate cut at all this year from the Fed," said Oliver Pursche, senior vice president at Wealthspire Advisors in New York. "If four months ago I said there's a real possibility the Fed won't lower rates at all in 2024, the response would have likely been that will create a massive sell off in stocks," Pursche added.