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Neil Kashkari, President of the Federal Reserve Bank of Minneapolis, said that the possibility of US central bank to lower rates Benefit Next year is highly unlikely, according to Archyde.com.
Kashkari explained, in his speech to a forum on the sidelines of a financial regulation conference in New York, yesterday, that "Some financial markets are indicating that they expect us to cut interest rates next year".
He added: "I don’t want to say that this is impossible, but it seems like a very unlikely scenario… The most likely scenario is that we will keep increasing (interest rates) and then we will wait until we have confidence that inflation is going down significantly back towards the target level (2 percent)".
The US Federal Reserve raised interest rates last week by 75 points, for the second time in a row, in accelerated steps by monetary policy makers to confront inflation Which reached its highest levels in more than 4 decades.
It is noteworthy that the Fed raised interest rates last June by 75 basis points, the largest increase since 1994, in addition to raising it by half by 50 basis points in May, in addition to an increase of 25 basis points in March of the same year.
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Neil Kashkari, President of the Federal Reserve Bank of Minneapolis, said that the possibility of US central bank to lower rates Benefit Next year is highly unlikely, according to Archyde.com.
“Some financial markets are indicating that they expect us to cut interest rates next year,” Kashkari said, in his speech to a forum on the sidelines of a conference on financial regulation in New York, yesterday.
He added: “I don’t want to say that this is impossible, but it seems like a very unlikely scenario … the most likely scenario is that we will continue to increase (interest rates) and then we will wait until we have confidence that inflation is declining at a significant pace back towards the target level (2%) )”.
The US Federal Reserve raised interest rates last week by 75 points, for the second time in a row, in accelerated steps by monetary policy makers to confront inflation Which reached its highest levels in more than 4 decades.
It is noteworthy that the Fed raised interest rates last June by 75 basis points, the largest increase since 1994, in addition to raising it by half by 50 basis points in May, in addition to an increase of 25 basis points in March of the same year.