The Federal Reserve will only cut interest rates once this year, which is a reasonable forecast, foreign media quoted Minneapolis Federal Reserve President Neel Kashkari as saying. Kashkari believed that a rate cut will not occur until December because there is still a need for more evidence that US inflation is receding to 2%.
He said the Fed is now in a very good position, with time to seize more data on inflation, the economy and the labor market. He was surprised by the performance of the U.S. job market despite the Fed's significant increase in borrowing costs over the past two years, while expecting the job market to cool further in the future.
