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MNI BRIEF: Kashkari Says Mkt Bets on Rate Cut Very Unlikely

(MNI) Ottawa
NEW YORK (MNI)

Investor bets the Fed will turn to interest-rate cuts next year seem very unlikely to pan out because the focus has to remain on inflation rather than worries about a recession, Minneapolis President Neel Kashkari said Wednesday.

“The more likely scenario is we would continue raising and then we would sit there, until we have a lot of confidence that inflation is well on its way back down to 2% before we would start to cut,” he said during a talk at Columbia University. It could take several years for inflation to come back down, he said.

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Investor bets the Fed will turn to interest-rate cuts next year seem very unlikely to pan out because the focus has to remain on inflation rather than worries about a recession, Minneapolis President Neel Kashkari said Wednesday.

“The more likely scenario is we would continue raising and then we would sit there, until we have a lot of confidence that inflation is well on its way back down to 2% before we would start to cut,” he said during a talk at Columbia University. It could take several years for inflation to come back down, he said.

Keep reading...Show less