Fed May Need to Hold Rates Steady All Year, Kashkari Says

Reuters, May 7, 2024–Ann Saphir
Stalled inflation buoyed in part by housing market strength means the Federal Reserve will need to hold borrowing costs steady for an “extended period,” and possibly all year, Minneapolis Federal Reserve President Neel Kashkari said on Tuesday.

“I would need to see multiple positive inflation readings suggesting that the disinflation process is on track” to support a rate cut, Kashkari said at a Milken Institute conference.
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