Fed's Kashkari: Close call on June meeting whether to raise or pause
|In an interview with CNBC on Monday, Minneapolis Federal Reserve President Neel Kashkari said that it was a close call on whether he will be in favor of hiking the policy rate one more time in June or pausing, per Reuters.
Key takeaways
"Seeing very little imprint of banking problems in Minneapolis Fed district."
"Not seeing evidence yet that banking stress is doing our work for us on inflation."
"Services inflation seems pretty darn entrenched."
"It may be that we have to go north of 6%, but not clear."
"We cannot protect the economy from a debt default, this type of brinksmanship weakens ourselves relative to global competitors."
Market reaction
These comments don't seem to be having a noticeable impact on the US Dollar's performance against its major rivals. As of writing, the US Dollar Index was virtually unchanged on the day at 103.15.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.