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Perhaps creating the indecision is the uncertainty over U.S. interest rates. On Tuesday, Fed Chair Jerome Powell helped put in a floor by reiterating last week’s remarks on “disinflation.”
However, any gains from those comments were offset by hawkish comments from New York Fed President John Williams, who said Wednesday that moving the federal funds rate to 5.00% – 5.25% “seems a very reasonable view of what we’ll need to do this year in order to get the supply and demand imbalances down.”