A "higher for longer" interest rate stance has rung true from the Federal Reserve for the past 6 months as officials steer inflation down to 2%. With hotter-than-expected inflation data rolling out the past few months, most recently with ISM's manufacturing PMI (Purchasing Managers' Index), there may be some doubt on Wall Street that interest rates will cut sooner than later.
Former Federal Reserve Bank of Atlanta President Dennis Lockhart joins Yahoo Finance to discuss the Fed's potential policy decisions moving forward and how it may affect the market.
In terms of where the Fed has landed on its rate cut consensus, Lockhart states: "It's a little bit more ambiguous than it was just a few weeks ago when they came out with the dot plot. I would say that the upcoming meeting, April 30 and May 1, I don't see them making any move. I think June is still a possibility. Depends a lot on the data that come in. But, as long as the economy is tolerating this level of interest rates and the progress is slow at best in disinflationary terms, I don't see them moving. I think they may push it back beyond June."
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Негізгі бет Fed ‘has more work to do’ on inflation, former Atlanta Fed president says on rate cuts
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