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MNI BRIEF: Kashkari Says Fed May Need To Hold Rates All Year

(MNI) OTTAWA

Minneapolis Fed president raises possibility of not cutting at all this year if inflation misbehaves.

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Minneapolis Fed President Neel Kashkari said Thursday that while he put two rate cuts into his dot-plot projection last month, officials could opt to keep borrowing costs on hold all year if the economy's strength continues.

“We need to see some more progress before we would be confident I think in starting our rate cutting cycle,” he said during an online talk. “If we continue to see inflation moving sideways, then that would make me question whether we needed to do those cut rates at all. There is a lot of momentum in the economy right now.” (See: MNI INTERVIEW: US Manufacturing Rebounds, Price Hikes Concern)

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Minneapolis Fed President Neel Kashkari said Thursday that while he put two rate cuts into his dot-plot projection last month, officials could opt to keep borrowing costs on hold all year if the economy's strength continues.

“We need to see some more progress before we would be confident I think in starting our rate cutting cycle,” he said during an online talk. “If we continue to see inflation moving sideways, then that would make me question whether we needed to do those cut rates at all. There is a lot of momentum in the economy right now.” (See: MNI INTERVIEW: US Manufacturing Rebounds, Price Hikes Concern)