Fed's Mester: PCE data underscores slow progress on inflation
In an interview with CNBC on Friday, Federal Reserve Bank of Cleveland President Loretta Mester said that the Personal Consumption Expenditures (PCE) Price Index released on Friday underscored the slow progress on inflation.
Breaking: US Core PCE inflation increases to 4.7% vs. 4.6% anticipated.
“It’s probably not wise to sort of pre-guess what the meeting outcome will be,” Mester said when asked whether another rate increase is warranted at the upcoming FOMC meeting.
Key takeaways
"Tighter monetary policy is still feeding into the economy."
"I may have to revise up my inflation forecast."
"Everything is on the table for the June FOMC meeting."
"Fed is very committed to lowering inflation in timely way."
"Fed still has more data to see ahead of the June FOMC meeting."
"Have not sees much sign of banking stress affecting credit conditions."
"Economy has slowed quite a bit relative to last year."
"Important for the Fed not to under tighten monetary policy."
"Right now is the hard part for monetary policy decisions."
Market reaction
The US Dollar Index stays in positive territory above 104.30 following these comments.
Reprinted from FXStreet_id，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.