“Fed’s Kashkari wants to see ‘many more months’ of positive inflation data before a rate cut”

“…The Federal Reserve should wait for significant progress on inflation before cutting interest rates, Minneapolis Federal Reserve President Neel Kashkari told CNBC on Tuesday.

Asked what conditions were needed for the Fed to cut rates once or twice this year, Kashkari said: “Many more months of positive inflation data, I think, to give me confidence that it’s appropriate to dial back.”…”

https://www.cnbc.com/2024/05/28/feds-kashkari-wants-to-see-many-more-months-of-positive-inflation-data-before-a-rate-cut.html

Let me translate for you. We are not close enough to the election for rates to be cut. This is what I think he means.