Fed's Neel Kashkari: Fed may not cut rates this year if inflation progress stalls
Federal Reserve Bank of Minneapolis President Neel Kashkari said in a speech that the Federal Reserve may not cut interest rates this year if inflation progress stagnates, especially if the U.S. economy remains strong. Kashkari said the January and February inflation data "a little worrisome", and said we need to see more progress in prices to gain confidence that prices are moving toward the Fed's 2% target before lowering borrowing costs, Kashkari emphasized the importance of letting inflation data guide interest rate decisions.
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