Posted 11/7/2023, 12:16:00 AM
Fed's Kashkari Cautious on Declaring Victory Over Inflation, Hints More Rate Hikes May Be Needed
- Kashkari says Fed likely has more work ahead to control inflation, suggesting he still leans toward raising rates again
- Recent inflation data has been good with prices moving lower, but Kashkari is "nervous about declaring victory too soon"
- Fed met last week, kept rates unchanged between 5.25-5.5%, preserved option to raise again as inflation still well above 2% target
- Kashkari welcomed recent lower inflation data but wants to see more before deciding on next steps
- Kashkari says economy has proved resilient even with Fed raising rates a lot over past couple years