Neel Kashkari, president of the Minneapolis Federal Reserve in an interview with CNBC, commented on the current macroeconomic backdrop in the US and referred to the Fed's monetary policy on interest rates. Here are the key comments made by the banker:
- Monetary policy may not put as much pressure on demand as we think
- If we see a few more months of good inflation data, we will gain confidence in a return to 2%
- If the labour market continues to be strong, we could cut interest rates quite slowly
- At the moment, 2-3 interest rate cuts this year seem appropriate
- Most of the commercial property sector, apart from the office segment, is doing well
- The economy is showing remarkable resilience
We can interpret Kashakeri's comments as clearly hawkish and encouraging of a later interest rate cut. Despite this, the EURUSD pair is not overreacting to these comments, with the dollar recording negligible declines in their aftermath.
Kashkari forecasts 2-3 cuts this year. Meanwhile, the market is still pricing in around 5 cuts for 2024. Source: CME
Source: xStation
التقويم الاقتصادي: نهاية هادئة للأسبوع!
ملخص اليوم: ارتفاع النفط يضغط على EURUSD، واستمرار ارتفاع وول ستريت
عاجل: النفط ينتعش إلى 100 دولار مع توقعات مسؤولين خليجيين وأوروبيين بأن تطلب الولايات المتحدة ستة أشهر لإبرام اتفاق مع إيران.
الرميان يكشف مستهدفات قطاعات التطوير والصناعة والطاقة ضمن استراتيجية
