Fed’s Kashkari 'not ruling out' a hike but expects rates to hold steady for 'extended' period

Minneapolis Fed president Neel Kashkari said Tuesday he is still not ruling out an interest rate hike, but it’s more likely the central bank could hold rates steady for an "extended" time as it waits for inflation to drop.

Minutes from that meeting released last week indicated some policy makers discussed their willingness to raise rates if needed. The inflation readings in the first quarter were hotter than expected, but an April reading released after the Fed's last meeting did show some easing of those price pressures.

But “we might also conclude policy is actually not restrictive enough— the disinflationary process is not on its way — and therefore that would be the situation where we would potentially have to go up again."In 5 Years, These 2 Stocks Will Be More Valuable Than Apple

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