Posted 4/12/2024, 5:39:50 PM
Fed Official: Rates to Stay Restrictive with Inflation Too High, Labor Market Tight
- Inflation still too high for Fed to cut interest rates currently
- Kansas City Fed President says monetary policy should remain restrictive with inflation above 2% target and labor market still tight
- Recent inflation and jobs data underscore need for Fed to be patient before cutting rates
- Job market remains strong and economic growth continues, though some imbalance still exists
- Kansas City Fed chief wants smaller Fed balance sheet over time as current size depresses rates
