Comments from three regional Fed presidents suggest steady rates amid signs of a weaker labour market.
Traders currently put the chances of the US central bank holding rates steady in September at more than 90%.
The Fed has raised its benchmark lending rate 11 times over the past 18 months to a level not seen for 22 years as it grapples with inflation still stubbornly above its long-run target of two percent. “But skipping does not imply stopping,” she continued, adding that “further evaluation of the data and outlook could confirm that we need to do more to extinguish inflation”.
“There’s nothing that is saying we need to do anything imminent anytime soon, so we can just sit there, wait for the data, see if things continue,” he told CNBC on Tuesday.New York Fed president John Williams was less direct than Logan in an interview with Bloomberg on Thursday. But Williams did not explicitly say if he favoured raising or holding interest rates, and urged the Fed to “keep watching the data carefully, analysing all of that and really asking ourselves the question, is this sufficiently restrictive?”Chicago Fed president Austan Goolsbee struck a more optimistic tone than both Logan and Williams in an interview with APM’s Marketplace.
“If you look at expectations in the marketplace, there’s a growing confidence that we can pull it off,” Goolsbee said, adding that it hinged on the Fed “remaining attentive to the data”.
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