Reported 8 months ago
Minneapolis Federal Reserve President Neel Kashkari suggests it's reasonable to expect a rate cut in December this year, emphasizing the need for convincing evidence of inflation returning to 2%. The Fed has maintained its benchmark policy rate to pressure the economy and cool inflation, with projections indicating a single rate cut this year, likely towards the end of 2024 according to Kashkari. He hopes for modest cooling to achieve a balanced economy and emphasizes that bringing inflation down to target levels is crucial for the housing market's affordability.
Source: YAHOO