Fed's Paese (non-voter) says too soon to rule out further rate hikes; central bank has time to decide the next step on monetary policy
- Still working to achieve price stability.
- Too soon to declare victory on inflation.
- Watching the 10yr yield for signals on financial conditions.
- Path back to 2% inflation will be bumpy.
- Soft landing for the economy remains possible.
- Local contacts report better balance in job market.
- Unclear yet whether tighter financial conditions will provide needed restraint.
- Fed policy is restrictive and impacting "modest" downward pressure on inflation.
Analysis details (17:00)
- Paese is the interim St Louis Fed President, and if still present in 2024, will be a voting member.
09 Nov 2023 - 17:00- Important- Source: Newswires
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