Fed Kashkari is expected to speak at the top of the hour
At the top of the hour, the U.S. Treasury will auction off $40 billion of 10 year bonds. Feds Kashkari will also be speaking for the second time this week. Recall on Tuesday he said:Not changing my forecast for rates for nowStill sees rate path moving towards around 5.40%Wishes to see more evidence that underlying inflation was trending down moreServices side of the economy is still very robustHard to imagine strong jobs growth can occur with wage growth moderatingWe haven't done enough to bring the labour market into balanceKashkari is more hawkish as far as a terminal rate versus most Fed officials who were still in the 5% – 5.25% with an eye on potentially going higher. Kashkari is firm at 5.4% or about 25 basis points higher than the consensus This article was written by Greg Michalowski at www.forexlive.com.
At the top of the hour, the U.S. Treasury will auction off $40 billion of 10 year bonds. Feds Kashkari will also be speaking for the second time this week. Recall on Tuesday he said:
- Not changing my forecast for rates for now
- Still sees rate path moving towards around 5.40%
- Wishes to see more evidence that underlying inflation was trending down more
- Services side of the economy is still very robust
- Hard to imagine strong jobs growth can occur with wage growth moderating
- We haven't done enough to bring the labour market into balance
Kashkari is more hawkish as far as a terminal rate versus most Fed officials who were still in the 5% – 5.25% with an eye on potentially going higher. Kashkari is firm at 5.4% or about 25 basis points higher than the consensus
This article was written by Greg Michalowski at www.forexlive.com.
