Minneapolis Fed Pres. Kashkari (nonvoting member) is speaking and says:
- Housing market is proving more resilient to tight monetary policy than it has been in the past
- Possible that housing market resilience means the neutral rate has been pushed higher at least in the short term
- inflation progress seen in latter half of 2023 appears to have stalled,
- The question is whether disinflation is still underway or just taking longer
- The recent slow GDP due to inventories and net exports, underlying demand remains strong.
Kashkari has been more of a hawk of late.
This article was written by Greg Michalowski at www.forexlive.com. Source