According to the Zhitong Finance and Economics APP, Neel Kashkari, President of the Minneapolis Fed, stated on Sunday that the Federal Reserve has ample time to consider and observe subsequent data before starting to cut interest rates. Kashkari said that if there is only one rate cut this year, it is likely to occur at the end of the year.
Kashkari stated: &#34;We need to see more evidence to convince us that the inflation rate is falling to 2%.&#34; &#34;We are in a very favorable position now to take some time to get more inflation data, more economic and labor market data before making any decisions.&#34;
Federal Reserve policymakers last week reduced their expectations for interest rate cuts this year from the previously estimated 3 times in March to 1 time. They warned that before easing policy, they need to be more certain that inflation is slowing to the target level of 2%, especially after inflation stalled earlier this year.
On the morning when the Federal Reserve announced its interest rate decision, data showed that the underlying Consumer Price Index (CPI) growth, excluding the more volatile food and energy categories, slowed for the second consecutive month

Kashkari said that if there is only one interest rate cut this year, it is likely to occur at the end of the year

Kashkari: The Federal Reserve has ample time to consider rate cuts before making a decision