Federal Reserve Kashkari: Perhaps there is no need to cut interest rates this year
2024-04-04 19:31:38
The Federal Reserve's Kashkari said that if inflation stagnates, especially while the economy remains strong, there may not be a need to cut interest rates this year. Kashkari said at an event held on Thursday, "I predicted in March that if inflation continues to fall back to the 2% target level, interest rates will be cut twice this year. But if the inflation trend continues to be sideways, it will make me question whether we need to cut rates." He pointed out that the inflation data for January and February is "somewhat worrying," and said he needs to see more progress in prices to confirm that inflation is moving towards the Federal Reserve's 2% target before considering a rate cut. He emphasized the importance of using inflation data as a guide for interest rate decision-making.
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