Fed's Kashkari: Should wait for significant progress on inflation before cutting rates

Eren Sengezer FXStreet

Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari told CNBC on Tuesday that the Fed should wait for significant progress on inflation before lowering the policy rate, per Reuters.

Kashkari also reiterated that the central bank could potentially even hike interest rates if inflation fails to come down further.

Market reaction

These comments don't seem to be having a significant impact on the US Dollar's valuation against its major rivals. At the time of press, the US Dollar Index was down 0.1% on the day at 104.48.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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