Minneapolis Federal Reserve President Neel Kashkari said on Sunday that it is a “reasonable prediction” that the Fed will wait until December to cut interest rates, adding that the central bank is in a very good position to get more data before making any decisions.
Key quotes We need to see more evidence to convince US inflation is heading to 2%. US economy is stronger than in other countries that are cutting rates. Job market has performed better than expected. May be more cooling in labor market yet to come, hope it will be modest. Reasonable that rate cut could come in December. We are in a very good position to take our time, get more data, before making a decision on rate.
When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. How often does the Fed hold monetary policy meetings? The Federal Reserve holds eight policy meetings a year, where the Federal Open Market Committee assesses economic conditions and makes monetary policy decisions.
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