Kashkari backs higher for longer rates amid doubt on whether policy is restrictive
Investing.com -- Minneapolis Fed President Neel Kashkari on Wednesday backed the case for higher for longer interest rates after expressing uncertainty about how restrictive the current level of monetary policy is in the wake of more resilient than expected economy.
"That tells me we probably need to sit here for a while longer, until we figure out where underlying inflation is headed," he added. "It seems like there is more resilience in the economy than I had expected," Kashkari added. Because of some of these dynamics, these interest rates only really mean we're putting one foot on the brake and not two."
But on the heels of the hot producer price report, a "cooler-than-expected consumer price report has immediately eased concerns of rapidly rising inflation, fueling investors’ hopes for rate cuts in the coming months," Stifel said in a Wednesday note.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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