Minneapolis Fed President Kashkari: Fed can keep interest rates steady

Minneapolis Fed President Neel Kashkari said the Fed “potentially” could keep rates steady all year. The Fed needs to gain more confidence that inflation is slowing before cutting rates and could possibly delay such a move until after 2024. Asked whether it would be appropriate to hold interest rates steady this year given the upside surprises in recent inflation data, Kashkari said “potentially.” “I think we should wait and see until we are convinced that inflation is going to get back to 2%, and be patient for however long that takes.” Kashkari has been among the Fed’s more hawkish policymakers in recent years. He is not voting on interest rate decisions this year.