freevideopokeronlinenodownload| Federal Reserve Meister is "hawking" again: interest rates should remain high for a longer time

Source: financial Union

On Thursday et, Mestre, chairman of the Cleveland Fed and the FOMC voting committee in 2024, said policy makers needed more data to be sure that inflation was moving towards the 2 per cent target, and advised officials to keep interest rates high for longer to achieve that goal.

Ms Mestre reiterated that monetary policy was now in a good position, adding that she expected prices to slow less than last year because the supply side is unlikely to help inflation much this year.

At an event in Worcester, Ohio, Mr Mestre said: "upcoming economic data will show that it will take longer to restore confidence [to meet the inflation target]. Given the current situation, it is prudent to maintain a tight monetary policy stance because we need more information about future inflation trends to make more informed decisions. "

She said earlier this week that monetary policy was in a "good position" and that it was too early to say that inflation had stalled, a view she reiterated on Thursday.

"our current monetary policy is in a good position in risk management," Mestre said in his speech. If there is not enough evidence to convince us that inflation is on the road to a sustainable and timely return to 2 per cent, cutting interest rates too early or too quickly could derail our progress on inflation. "

Although Mestre has the right to vote on policy decisions this year, she will step down at the end of June, and the Fed's next interest rate decision is scheduled for June 11 and 12, so it will be the last one she participates in.

Investors and the Fed breathed a sigh of relief on Wednesday that inflation eased slightly in April after a series of economic data at the start of the year showed persistent price pressures.

Specifically, the consumer price index (CPI) rose 3% in April from a year earlier.Freevideopokeronlinenodownload.4%; this indicator measures the cost of goods and services in the overall U. S. economy. Excluding volatile food and energy projects, core CPI rose 3.6 per cent in April from a year earlier, the slowest increase since April 2021.

Mestre said the April CPI report showed a "welcome decline" in inflation, but she and herFreevideopokeronlinenodownloadHis central bank officials said they would like to see more data to be sure that inflation is moving towards the Fed's 2 per cent target.

Earlier this month, the Fed left its benchmark interest rate unchanged at a target range of 5.25% to 5.5%. Federal Reserve Chairman Colin Powell said on Tuesday that officials "need to be patient and let restrictive policies work."

Richmond Fed Chairman Barkin agreed earlier Thursday, saying the Fed needs to maintain high borrowing costs for longer to ensure that inflation is close to its target, citing rising prices in services.

"CPI is still below the Fed's target and we need to see more progress on service sector inflation, which will take some time," Mr Barkin said. We believe that inflation is falling and we are on the right path. "

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