Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Aug 30 - The Federal Reserve can end its interest rate hiking cycle if the labor market and economic growth continue to slow at the current gradual pace, the former president of the Boston Fed said on Wednesday.
"As long as it looks like we're on a path to gradually get to 2% , there's no reason to hike further from here," Eric Rosengren, who was president of the Boston Fed from 2007 to 2021, told the Reuters Global Markets Forum. That indicates the Fed's rate hikes are working to bring inflation down to the central bank's 2% target while the full impact of tighter policy has yet to be felt, Rosengren said.
However, interest rate cuts are unlikely to be on the table until core PCE falls"closer to 3% than 4%," Rosengren added.
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