European markets are set to open in positive territory as investors look ahead to the latest U.S. inflation data and how it could affect Fed policy.
CNBC Pro: This under-the-radar EV charging stock could soar by 100%, Bank of America says
Bank of America has doubled down on its buy rating for an electric vehicle charging company and expects its shares to rise by more than 100% over the next 12 months to $5.5 a share. The EV charging firm is set to release two new models of supercharges, which are expected to power sales in the second half of the year.Inflation will 'take time' to retreat down to 2%, New York Fed President John Williams says
The Federal Reserve's increases to interest rates will need more time to work through the economy before inflation abates to a 2% target,"Because of the lag between policy actions and their effects, it will take time for the [Federal Open Market Committee's] actions to restore balance to the economy and return inflation to our 2% target," Williams said at the Economic Club of New York on Tuesday.
Williams didn't give any forward guidance as to what the central bank might do at the next FOMC meeting. His remarks did little to move markets in either direction, with all three major indexes still trading lower midday.
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