As the Federal Reserve prepares for its June Federal Open Market Committee (FOMC) meeting, speculation is rife about its next move.
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Persistent inflation matches core inflation, suggesting that further progress on bringing down inflation will be hard to come by.
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Hammack will replace Loretta Mester, one of the Fed's most hawkish officials.
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During an interview with CNBC Europe on Tuesday, Minneapolis Federal Reserve Bank President Neel Kashkari stated that right now, inflation is going sideways, we need “many more months of positive inflation data” to get one to two rate cuts and government
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After three months of rough inflation news, the April data is expected to give Fed officials at bit of a breather.
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There’s a palpable tension in the air as Wall Street is confronted with the once unthinkable: interest rates may not be at their peak.
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The April-May minutes have a much more hawkish tone than the summary of the previous meeting.
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Progress on inflation has been very slight, so any rate cuts will have to wait until the Fed has several more months of data on inflation, Waller said.
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