Minneapolis Fed president says more evidence is needed to show that inflation is going down ...Middle East

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Minneapolis Federal Reserve President Neel Kashkari said more evidence needs to be shown to prove that inflation is on a downward trend to cut interest rates. The Federal Reserve held interest rates at a 23-year high last week, keeping rates in a range of 5.25 percent to 5.5 percent. Kashkari said on CBS's "Face the Nation" that they need to see more evidence that inflation is nearing its goal of 2 percent before cutting interest rates. Brennan asked Kashkari what else he needed to see to support cutting rates, noting that Canada and Europe have each already announced interest rate cuts. "We need to see more evidence to convince us that inflation is well on our way back down to

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Last updated : 16 June 2024 clock 07:37 PM

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