(Bloomberg) — The Federal Reserve needs to achieve more confidence that inflation is declining before cutting interest rates and could possibly delay such a move until after 2024, said Minneapolis Fed President Neel Kashkari.
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Asked whether it would be appropriate to hold rates steady this year given upside surprises in recent inflation data, Kashkari said “potentially,” speaking during an interview on Fox News Channel.
“I’m in the view of, we need to wait and see, be patient as long as it takes, until we get convinced that inflation is on its way back down to 2%,” he said.
Kashkari has been among the Fed’s more hawkish policymakers in recent years. He does not vote on rate decisions this year.
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