Minneapolis Fed President Neel Kashkari said on Friday that it could support another rate hike of 75 basis points in July, as reported by Reuters.
Featured Statements
“You have to be cautious with the excess of anticipation in rate hikes.”
“A prudent strategy could be to continue with 50bp rate hikes after the July meeting.”
“The Fed would have to continue to rely on the data.”
“If supply shocks subside, it may not be necessary to raise rates as much as at other times.”
“I suppose we will be able to relax the policy somewhat in 2024.”
“If inflation picks up or supply doesn’t improve, it may be necessary to continue raising rates beyond what was anticipated.
“A steady focus on rate hikes can help us avoid tightening more than necessary.”
“I don’t think the comparison to the ’70s and ’80s is relevant, because then the Fed had to establish its credibility.”
market reaction
The dollar rally continues after these comments, with the dollar index up almost 1% on the day to 104.82.
Source: Fx Street
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