New Fed Official Remarks Indicate About Interest Rate Futures

Federal Reserve policymakers are divided on when and how much to cut interest rate

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Inflation is still above the central bank's goal of a 2% annual rate, while the job market is healthy and consumers are spending

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The Fed has held the fed funds rate at its highest level since 2001 to slow the economy and cool inflation

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Fed Chair Jerome Powell is taking a "wait and see" approach to determine if the latest uptick in inflation is a fluke or a genuine setback

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Financial markets are pricing in about a 60% chance of interest rate cuts beginning in June

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Other FOMC members have been more specific about how many rate cuts they think would be needed this year

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Mary Daly, president of the Federal Reserve Bank of San Francisco, said three rate cuts was a reasonable baseline.

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