New York Fed President John Williams’s comments about the Fed not currently discussing rate cutd put a damper on investor optimism.
Markets sputtered slightly before recovering on Friday after New York Fed President John Williams snuffed out some of the optimism around rate-cuts following the central bank’s meeting this week.
In an interview on Friday morning, Williams said the Fed isn’t discussing rate cuts right now. Stocks edged lower after the news but swung back up as the market headed toward the closing bell.
Despite the hiccup on Friday, the Dow Jones Industrial Average and the Nasdaq notched their seventh straight weekly gain. The Dow hits it another fresh closing record following new all-time highs on Wednesday and Thursday.
„The Dow Jones Industrial Average has gone from correction to record highs in only 32 trading days.
