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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessKashkari Still Favors Getting Rates to 5.4%
- Speaking to CNBC in his first commentary since last week’s FOMC and payrolls, Kashkari (’23 voter) says he still favors getting rates to 5.4%.
- He was surprised by the strength of the jobs report with underlying strength in services but nobody should overreact to one report (reported by Reuters).
- 12 month PCE inflation is the ultimate goal and “virtually no progress” seen in core services ex housing”.
- With Fed models failing during Covid re-opening, he reiterates that we must let realized inflation guide policy rather models, consistent with various FOMC members looking for an accumulation of evidence that inflation is moderating.
- It supports the earlier drift higher for the FOMC-dated OIS implied terminal to 5.12% with the July meeting but remains off yesterday’s high of 5.16%.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.