Fed official Kashkari: Core inflation is progressing rapidly toward the Fed's target
Tradehay.com: 05/02/2024 - 02:31
In an essay published on Monday, Minneapolis Federal Reserve Bank President Neel Kashkari suggested that a higher neutral rate could mean the Fed will spend more time assessing upcoming data. before starting to reduce interest rates, according to Reuters. This will help minimize risks affecting the economic recovery process.
Kashkari added that the higher neutral rate means monetary policy may not be as tight as expected and noted that core inflation is progressing rapidly toward the Fed's target.
He said interest-rate-sensitive sectors of the economy were still doing well, but acknowledged there were some signs of weakness, including rising consumer bad debt rates.
The US Dollar (USD) continues to maintain strength following these comments. At the time of writing, DXY is trading at its highest level since mid-November, reaching 104.42, up 0.45% on the day.
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