Federal Reserve member, Neel Kashkari, gave the interview for Bloomberg TV after today US CPI October report. Here are the highlights from his remarks.
- The Fed can't fix shortages driving housing inflation. The rise and fall of inflation is mostly due to supply.
- Risks existed before the election, we need to watch the data. I am not yet seeing a lot of upside inflation risks, the bigger risk is getting stuck.
- We have two-way risks. We are in a good place in the labor market, and want to keep it there.
- The labor market is softening. Higher productivity points to a higher neutral level.
- I am not ready to say inflation is stuck above 2%. There is still 6 weeks before the Fed's next meeting, with more data to come.
- I have confidence inflation is headed in the right direction. The CPI headline confirms the path we are on.
EURUSD pair slightly loses today (-0.1%), approaching the lowest levels since April 2024, near 1.06.
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Source: xStation5
