WASHINGTON, United States—High US interest rates are doing their job in the fight against inflation, but more hikes may yet
The comments from three regional Fed presidents with a vote on setting interest rates will likely solidify expectations that the US central bank intends to hold rates steady later this month amid growing signs of weaker labor market conditions.
Traders currently put the chances of a September pause at more than 90 percent, according to data from CME Group.“Another skip could be appropriate when we meet later this month,” Dallas Fed President Lorie Logan told a conference in Dallas on Thursday, according to prepared remarks. Logan’s support for a possible September pause echoes comments from Fed Governor Christopher Waller earlier this week in which he suggested that data showing a weakening jobs market meant the Fed should “proceed carefully.”
The Fed’s interest rate hikes are having “the desired effects of bringing demand and supply more into balance,” he continued, adding that inflation was “moving in the right direction.” Analysts have raised the chances of the Fed successfully cutting inflation while avoiding recession, which is also known as a “soft landing.”
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