"Federal Reserve Officials Reassure on 2024 Cuts Amid Inflation Fight and OJ Simpson's Death"

New York Fed president John Williams and Boston Fed President Susan Collins reassured investors that interest rates could still be cut this year despite recent inflation spikes, with Williams expecting gradual rate reductions starting this year and Collins needing more data to confirm a sustained drop in inflation. The recent chaotic market response to higher-than-expected inflation readings led to reduced expectations of rate cuts in 2024, with Fed officials uncertain about the persistence of high inflation and expressing readiness to respond to the economic outlook.