Fed official: Fed will remain on hold for longer period

Minneapolis Fed President Neel Kashkari said the Fed may keep interest rates unchanged for an extended period until new economic data convinces policymakers that inflation is falling.

Minneapolis Federal Reserve President Neel Kashkari said the Fed may keep interest rates unchanged for an extended period of time until new economic data convinces policymakers that inflation is declining.
Kashkari said the U.S. economy and labor market are strong, but many people are deeply dissatisfied with economic conditions. This may be due to the recent high inflation.
Kashkari said the strength of the economy means the Fed has plenty of time to obtain more evidence about the progress of inflation.
Investors and economists expect the Federal Reserve to keep its benchmark interest rate unchanged at its June meeting.

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