Fed's Kashkari wants significant progress on inflation before rate cuts
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Minneapolis Federal Reserve Bank President Neel Kashkari stated that the US central bank should wait for significant progress on inflation before cutting interest rates. Kashkari mentioned that many more months of positive inflation data are needed to give him confidence in dialing back rates. He also mentioned that if inflation fails to come down further, the central bank could potentially even hike rates. In April, Kashkari had penciled in two interest rate cuts for this year, but if inflation continues to stall, none may be required by year-end.



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