Posted 11/7/2023, 10:53:00 AM
Stocks Set to Open Lower as Fed Official Signals More Rate Hikes Needed to Tame Inflation
- U.S. stock futures point lower after Fed official says victory over inflation not yet achieved, raising rate hike speculation
- Minneapolis Fed President Kashkari says more work needed to reach 2% inflation target
- Stocks had best week of 2022 last week on hopes of less aggressive Fed rate hikes
- Kashkari would rather overtighten than not raise rates enough to control inflation
- Next Fed decision on rates is December 13