Fed official sees inflation on track to 2 percent target
Fed Governor Christopher Waller said inflation is slowing and he is more confident than since 2021 that inflation will hit the 2 percent target this year. He cautioned rate cuts depend on data, with markets pricing cuts later, while unemployment stays low and growth remains solid.
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Wall Street slips after holiday as Trump trial headlines flood markets
U S stocks retreat with the S&P 500 down 0 4 percent to 4765 98 the Dow off 231 86 and the Nasdaq lower by 28 41 Spirit Airlines plunges 47 1 after a judge blocks its JetBlue takeover Morgan Stanley drops 4 2 while Goldman Sachs edges higher Investors weigh earnings outlook for 2024 and potential Federal Reserve rate cuts Trump faces defamation trial rulings in New York Haley bars from debate unless Trump participates Berkshire Hathaway buys remaining Pilot stake ending Haslam bid to own Pilot Travel Centers
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