Fed’s Kashkari: Fed should not move too quickly to raise rates
|The Minneapolis Fed President Neel Kashkari, in an Op-Ed piece published in the Financial Times, said that the Fed should not move too quickly to raise rates.
Key quotes:
• Despite recovery in the US labour market, we need more evidence that wages are rising.
• Total pay is only growing at 2.7% annually, compared to 3.5% before the crisis.
• Inflation has now finally reached the FOMC’s target of 2%, after consistently undershooting for the past six years.
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