Shares of power producers declined as traders braced for a postponement of rate cuts to 2025.

Hot inflation, strong growth and elevated asset market prices all suggest that the current stance of the U.S. central bank's interest-rate policy is appropriate, Kansas City Fed President Jeffrey Schmid said, in the latest indication that hopes for multiple rate cuts in 2024 may be dashed.

Write to Rob Curran at

(END) Dow Jones Newswires

04-12-24 1735ET