Fed Officials Maintain Hawkish Stance on Inflation Despite PCE Data
Despite encouraging PCE data, Federal Reserve officials like Jefferson, Collins, and Kashkari have reiterated concerns about inflation remaining 'too high for too long'. They emphasize the need to stay focused on the 2% goal and downplay the PCE report as a single data point, suggesting the possibility of further rate hikes.
Jefferson said inflation risks remain tilted to the upside and expressed concern that people may stop believing in the Fed’s 2% goal. Collins said there are some “promising” signs in inflation, but others are less encouraging, and that risks remain to the upside. Kashkari said the PCE report is only “a snapshot” and said he expects more rate hikes. Cook said inflation is “too high for too long,” with the labor...