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MNI BRIEF: Fed’s Kashkari-Appear On Path To 2% Inflation Goal

(MNI) WASHINGTON

Last six months of inflation has been surprisingly positive, Minneapolis Fed president says.

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U.S. inflation is falling in a way that makes it appear likely the Federal Reserve can achieve a timely return to its 2% target, Minneapolis Fed President Neel Kashkari said Tuesday.

“The last six months of inflation data has been surprisingly positive. We’re not quite there yet on a year over year basis but the six-month data is basically there and the three-month data is basically there” at the Fed’s 2% goal, he said, though he did not discuss a possible interest rate cut. “If we continue what we’ve been experiencing, we’re on track to get back to our 2% target.” (MNI INTERVIEW: Fed Will Wait ON Rate Cuts In Strong Economy)

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U.S. inflation is falling in a way that makes it appear likely the Federal Reserve can achieve a timely return to its 2% target, Minneapolis Fed President Neel Kashkari said Tuesday.

“The last six months of inflation data has been surprisingly positive. We’re not quite there yet on a year over year basis but the six-month data is basically there and the three-month data is basically there” at the Fed’s 2% goal, he said, though he did not discuss a possible interest rate cut. “If we continue what we’ve been experiencing, we’re on track to get back to our 2% target.” (MNI INTERVIEW: Fed Will Wait ON Rate Cuts In Strong Economy)