WTF today? Nasdaq up +1% around noon and closes down -1.4%.
EDIT: the r/wsb is blaming this guy
Quote:
Federal Reserve Bank of Minneapolis President Neel Kashkari said interest-rate cuts may not be needed this year if progress on inflation stalls, especially if the economy remains robust.
“In March I had jotted down two rate cuts this year if inflation continues to fall back towards our 2% target,” Kashkari said in a virtual event on Thursday. “If we continue to see inflation moving sideways, then that would make me question whether we needed to do those rate cuts at all.”
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Who they say looks like this guy Arnold Vosloo from the Mummy. Had a good chuckle, I can see the resemblance if I squint, the bald head and the nose.
