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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 AccessMNI BRIEF: Kashkari Sees 4.5% Fed Rate, Little Need To Pivot
The Federal Reserve will likely continue with aggressive rate hikes to at least 4.5% and hold borrowing costs for a while to make sure inflation is clearly headed back to target, Minneapolis President Neel Kashkari said Wednesday, seeing little chance of an economic slowdown that would require a policy reversal.
“We need to bring demand down to match supply,” he said during a question-and-answer session. "If the economy entered a steep downturn, we could always stop what we’re doing, we could always if we needed to reverse what we’re doing, if we thought that inflation was headed back down very quickly.”
“For me the bar for such a change is very high because we have not yet seen much evidence that the underlying inflation," is softening, he said. “A much more likely scenario is we will raise to some level north of 4%, maybe 4.5, and then pause and sit there for an extended period of time," he said. Investors see the Fed hiking another 75bps at its next meeting, in part because officials see the job market cooling without major layoffs. (See: MNI INTERVIEW: Fed Cheers Cooling Labor Demand)
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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.