Minneapolis Federal Reserve Bank President Neel Kashkari had comments earlier:
More now, this time speaking with Fox:
- Economy has proved to be very resilient, inflation has come down
- Making progress on
inflation, job market is strong - Fed has more work to
do to get inflation under control - American consumers
continue to spend - Need to finish the
job on lowering inflation - ‘Nervous’ over
declaring premature victory over inflation - US economy is so far
ahead of foreign economies
I’m just gonna quietly add down here that I think there is something to be said for the view that the FOMC is not finished yet. Inflation has remained sticky in the US and my very well require a further rate hike (or hikes). Yes, I know the economy is showing signs of easing back and there is a danger of rate hikes while the economy even slows. Thats why the word ‘stagflation’ was invented ;-). Anyway, its too early to talk about that, but if inflation rises the Fed have a further job to do, uglay as it may get for the economy.
This article was written by Eamonn Sheridan at www.forexlive.com. Source