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2 Federal Reserve officials oppose an interest rate cut in December
Fed officials Collins and Bostic argue inflation remains above 2% target and warn rate cuts could accelerate inflation amid weak job hiring and limited economic data.
- Two Federal Reserve officials expressed opposition to another interest rate cut at the central bank's next meeting in December.
- Susan Collins, president of the Federal Reserve Bank of Boston, and Raphael Bostic, president of the Atlanta Fed, argued that inflation is stubbornly above the Fed's 2% target and the economy does not appear to need more rate cuts.
- Their remarks come at a challenging time for the Fed, with the economy facing weak hiring and elevated inflation, and the Fed's rate-setting committee remains divided on the path forward.
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Associated Press News+42 Reposted by 42 other sources
2 Federal Reserve officials oppose an interest rate cut in December
Two Federal Reserve officials expressed opposition Wednesday to another interest rate cut at the central bank’s next meeting in December, further muddying the outlook for the Fed’s next steps.
·United States
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Fed’s Kashkari: Inflation still too high, at 3%
Federal Reserve Bank of Minneapolis President Neel Kashkari gave a speech at the Opportunity & Inclusive Growth Institute's Research Conference hosted by the Federal Reserve (Fed) Bank of Minneapolis on Thursday, in which he talked about the labor market and inflation.
Coverage Details
Total News Sources47
Leaning Left6Leaning Right3Center27Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 17%
C 75%
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