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royalacecasino$100nodepositbonus| Federal Reserve official Kashkari: May keep interest rates unchanged for "an extended period of time"

Celebrities 2024年05月08日 06:59 8 editor

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said the Fed was likely to keep interest rates at current levels "for an extended period of time" until officials were convinced that inflation was moving towards its target.

In an article published earlier Tuesday, the Minneapolis Fed president said the recent inflation data raised questions about whether monetary policy was sufficiently restrictive to bring price growth back fully to the Fed's 2 per cent target.

"the most likely scenario is that we keep current interest rates unchanged for a long time," he said at the Milken Institute global conference on Tuesday. "if inflation starts to fall or the labour market weakens significantly, then it might prompt us to cut interest rates."

"or if we end up convinced that inflation is entrenched or stagnant at the current 3 per cent level and we need to raise interest rates further, then we will do the same if necessary," he added.

Kashkari said this was not the most likely scenario and that the threshold for raising interest rates was quite high, but he would not rule it out.

In particular, Kashkari pointed out that the continued rise in housing prices is a potential indicator that neutral interest rates may rise in the short term. Neutral interest rate refers to the level of interest rate that neither limits nor stimulates the economy. That could mean the Fed has more work to do to cool inflation, Kashkari said in a paper on the Fed's website on Tuesday.

royalacecasino0nodepositbonus| Federal Reserve official Kashkari: May keep interest rates unchanged for "an extended period of time"

Kashkari wrote, "my colleagues and I are certainly very happy to see the labor market showing resilience, but inflation fluctuated up and down in the most recent quarter, causingRoyalacecasino$100nodepositbonusThere are questions about how restrictive the policy is. "

Fed officials have been on hold since their July meeting, with stronger-than-expected inflation preventing them from cutting interest rates from their highest level since 2001. Investors currently expect to cut interest rates less than twice this year, compared with six in early 2024.

He saidRoyalacecasino$100nodepositbonus"given that housing is a key channel for monetary policy to affect the economy, its resilience raises questions about whether policy makers and markets are wrong about neutral interest rates, at least in the short term."

Kashkari said he raised his forecast for long-term neutral interest rates to 2% from 2%.Royalacecasino$100nodepositbonus.5%. Some of his colleagues on the Federal Open Market Committee have also raised these expectations, with the median forecast for the longer-term federal funds rate rising from 2. 5% in the latest forecast released in March.Royalacecasino$100nodepositbonus.5% raised to 2.6%.

Kashkari, president of the Minneapolis Fed, does not have a vote on monetary policy this year. He stressed that the central bank must make policies based on neutral interest rates in the short term.

"the current level of uncertainty about neutral interest rates poses a challenge for policy makers," he added.

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