Fed’s Kashkari wants ‘many more months’ of positive inflation data before rate cut
The Federal Reserve should wait for more substantial progress on inflation before considering interest rate cuts, Minneapolis Federal Reserve President Neel Kashkari told CNBC on Tuesday.
U.S. inflation increased by 0.3% in April, slightly less than expected, offering some relief to policymakers, but it remained 3.4% higher compared to the previous year. He also mentioned that while the central bank might consider adjusting its target rate in the future, it was premature to “move the goal posts” at this time.
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