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- Fed's Kashkari: 2% inflation target should not be changed
Fed's Kashkari: 2% inflation target should not be changed
Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis is crossing the wires with the following key comments:
Key comments
I see inflation at middle 3% by end of this year, closer to 2% next year.
2% inflation target should not be changed.
I'm less optimistic than bond market on speed of inflation's fall. The united states is a long way away from a central bank digital currency.
Meanwhile, the US Dollar index on Tuesday rose by +0.49% but there was some US Dollar weakness that was by sparked short covering in the Euro ahead of today´s key US event in the Consumer Price Index. Consumer price data on Wednesday is expected to show headline inflation rose by 0.2% in March, while core inflation rose 0.4%. The Federal Reserve is seen as likely to hike rates by an additional 25 basis points at its May 2-3 meeting, before pausing in June.
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