Kansas City Federal Reserve President Esther George said on Thursday (5) that she expects interest rates to remain high until 2024 in the United States.
In an interview with CNBCshe commented that she raised her terminal rate forecast to above 5% and sees rates holding at that level for some time, possibly until 2024, until there is convincing evidence that inflation is slowing.
“High inflation will demand our action. So, we increase our forecasts for higher interest levels, as you can see in the last dot chart, until we are confident that inflation is really slowing down”, highlighted Esther George.
When questioned about the possibility of a recession, the central banker said that she does not foresee this happening, but noted that it is important to be “realistic”, because by messing with instruments that suppress demand, the possibility of recession is created.
Source: CNN Brasil
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