Interest Rates Likely on Hold for 'Extended Period'

"If inflation started to tick back down or we saw some marked weakening in the labor market, then that might cause us to cut back on interest rates. Or, if we get convinced that inflation is entrenched at 3 percent and we need to go higher, we will do that."

By Catarina Saraiva & By Ryan Gould | May 08, 2024 at 08:49 AM

Photo: Minneapolis Fed President Neel Kashkari.

Federal Reserve Bank of Minneapolis President Neel Kashkari said it's likely the central bank will keep interest rates where they are "for an extended period of time," until officials are certain inflation is on track to their target.

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