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MNI INTERVIEW: Fed Should Avoid Rushing Into Rate Cuts-George

MNI speaks with former Kansas City Fed President Esther George following this week's FOMC decision.

MNI (WASHINGTON) - Federal Reserve officials should resist market pressure to begin cutting interest rates before inflation is actually heading sustainably back to its 2% target and while employment is still strong, former Kansas City Fed President Esther George told MNI.

“Inflation is still well over their target even as it inches down, and there are dynamics out there that mean we have to acknowledge upside risks to inflation,” George said in an interview Thursday.

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MNI (WASHINGTON) - Federal Reserve officials should resist market pressure to begin cutting interest rates before inflation is actually heading sustainably back to its 2% target and while employment is still strong, former Kansas City Fed President Esther George told MNI.

“Inflation is still well over their target even as it inches down, and there are dynamics out there that mean we have to acknowledge upside risks to inflation,” George said in an interview Thursday.

Keep reading...Show less