Morning Bid: Blunt Powell signals rate cut plans on ice

There's no doubt there's a doubt about any U.S. interest rate cuts this year. After weeks of market trepidation about stalling U.S. disinflation amid still-brisk economic growth, Federal Reserve top brass are making clear that this year's rate cut plans are on ice until further notice. Even though Fed policymakers seemed to re-affirm their expectation of as many as three quarter-point cuts in 2024 as recently as last month, the picture has shifted considerably since.