Five Things You Need to Know to Start Your Day: Europe
Get up to speed with what the markets are monitoring
Welcome to Friday. More Fed voices call for patience on rate cuts. China’s consumer growth slows. And one quant fund loaded up on meme-stock darlings ahead of the recent rally. Here’s what people are talking about.
Investors eager for Federal Reserve cuts to interest rates are instead hearing a chorus of voices calling for patience. Several Fed officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing. Loretta Mester, John Williams and Thomas Barkin argue it may take longer for inflation to reach the central bank’s 2% target. Over on Wall Street, JPMorgan CEO Jamie Dimon is still more worried about inflation than markets appear to be. His warning came as the Dow Average touched 40,000. Meanwhile, in Europe ECB Executive Board member Isabel Schnabel warned against back-to-back interest-rate cuts in June and July.