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MNI BRIEF: Fed Has ‘More Work To Do’ On Inflation-Kashkari

(MNI) WASHINGTON

It's too soon for Fed to consider a pause in rate hikes, Minneapolis Fed chief says.

The Federal Reserve needs to tighten monetary policy further in order to bring down inflation running near 40-year highs and showing little sign of abating, Minneapolis Fed President Neel Kashkari said Thursday.

“We’re at a time of very high inflation, the Federal Reserve has worked very aggressively to raise interest rates to bring the economy back into balance. We have more work to do,” he said.

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The Federal Reserve needs to tighten monetary policy further in order to bring down inflation running near 40-year highs and showing little sign of abating, Minneapolis Fed President Neel Kashkari said Thursday.

“We’re at a time of very high inflation, the Federal Reserve has worked very aggressively to raise interest rates to bring the economy back into balance. We have more work to do,” he said.

Keep reading...Show less