Fed Officials Divided on Need for Further Rate Hikes as Inflation Shows Signs of Cooling
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Chicago Fed President Austan Goolsbee said inflation is cooling significantly and rates may not need further hikes. He sees a possible "golden path" to reduce inflation without a recession.
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Minneapolis Fed President Neel Kashkari said inflation is not yet at target so it's too early to pause rate hikes. The Fed's work fighting inflation is "not done yet."
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Fed Governor Michelle Bowman said she believes additional rate hikes may be needed as inflation data remains uneven. She doesn't think rates are at peak yet.
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Fed Governor Christopher Waller noted the job market is “calming down” which could mean inflation is coming under control.
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Fed officials' comments come after the FOMC voted to keep rates unchanged at the last meeting, though views on need for more hikes diverge.