Fed's Neel Kashkari sees 40% chance of 'meaningfully higher' interest rates
Publishing timestamp: 2023-09-26 13:52:31
Summary
Neel Kashkari, President of the Minneapolis Federal Reserve, believes there is a 50-50 chance that interest rates will need to be raised significantly to bring down inflation. He argues that the US economy may be heading towards a "high-pressure equilibrium" where inflation stays elevated and requires higher rates. Kashkari also questions whether current monetary policy is tight enough to bring services inflation back to target. However, he also acknowledges the progress made against inflation and the possibility of a "soft-landing" goal.
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Keywords: jamie dimon, neel kashkari, jpmorgan drn, personnel, economy, federal reserve bank, inflation, business news, prices, interest rates, markets,