US Federal Member, Kashkari
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Today, Wednesday, US Federal Reserve member Kashkari made the following statements:
- We are far from declaring victory over inflation.
- Inflation data will not change my expectations for the rate hike path.
- I expect the interest rate to rise to 3.9% by the end of the year and to 4.4% by the end of next year.
- Fed members are united in their commitment to bring inflation down to 2%.
- The idea of a rate cut early next year is not realistic.
- More realistically, the US Federal Reserve will raise interest rates and leave them until inflation returns to around 2%.
It should be noted that US Federal Reserve member Charles Evans said today, Wednesday, that the Consumer Price Index report released hours ago, which shows that inflation did not rise last July, is the first positive reading on inflation since the Federal Reserve began tightening monetary policy during the past months.
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