In a speech on Thursday, Minneapolis Federal Reserve Bank President Neel Kashkari claimed that if inflation continues to stall out, then he could foresee no interest rate cuts from the Fed this year. US Equities (^GSPC, ^DJI, ^IXIC) began to trade lower on Thursday afternoon. BNY Mellon FX & Global Macro Strategist John Velis joins Market Domination Overtime to discuss his thoughts on Kashkari's comments and the market's reaction to them. In terms of the current market conditions and potential for a rate cut, Velis states: "I think we need to see housing and non-housing core services come down. I think inflation is still the name of the game. I do think there is some signs of market slowing so I'm not sure that Kashkari is necessarily the catalyst for what's been going on today, and I still think we're 50-50 for a June cut. I'm leaning for a June cut because I do think the inflation data will give them enough readings to be comfortable doing so." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. Editor's note: This article was written by Nicholas Jacobino

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