Minneapolis Fed President Neel Kashkari suggests a December rate cut is "reasonable," pending further evidence of inflation decline toward the 2% target.
Current Rate: Held at 5.25%-5.50% since July.
Forecast: Median projection among Fed officials supports one rate cut this year.
Key Points:
*Data-Driven Decisions: More inflation, economic, and labor data needed before action.
*Inflation: April's personal consumption expenditures price index at 2.7%.
*U...

Consumers' one-year inflation expectations have climbed to 3.3%, the highest since last November, after hovering around 3% for the past four months. Expectations for long-term inflation and home price increases have also risen.
At the same time, confidence in finding new employment if current jobs are lost has dropped to a three-year low. The proportion of consumers expecting to be ...

The Federal Reserve held interest rates steady at their current range of 5.25% to 5.5%, but revised its outlook for rate cuts to just one in 2024. Central bank policymakers noted that there has been “modest further progress” toward its 2% inflation objective. Federal Reserve Chair Jerome Powell noted at the press conference that the central bank does not yet have the confidence to cut rates, even as inflation has e...