12 Jan 2024 8:09 am
Let's see what one of those talking heads says from the Fed:
"March is probably too early in my estimation for a rate decline because I think we need to see some more evidence," Cleveland Federal Reserve President Loretta Mester said Thursday in an interview with Bloomberg TV.
Her remarks followed a report released Thursday morning that showed the Consumer Price Index came in stronger than expected in December. CPI rose at an annualized rate of 3.4% in December, up from a 3.1% year-over-year rate in November. Economists had expected it to come in at 3.2%, according to consensus estimates from Dow Jones.
"The December CPI report just shows there is more work to do and that work is going to take restrictive monetary policy," Mester said.
The current pain a lot of people are experiencing isn't going away any time soon.
"March is probably too early in my estimation for a rate decline because I think we need to see some more evidence," Cleveland Federal Reserve President Loretta Mester said Thursday in an interview with Bloomberg TV.
Her remarks followed a report released Thursday morning that showed the Consumer Price Index came in stronger than expected in December. CPI rose at an annualized rate of 3.4% in December, up from a 3.1% year-over-year rate in November. Economists had expected it to come in at 3.2%, according to consensus estimates from Dow Jones.
"The December CPI report just shows there is more work to do and that work is going to take restrictive monetary policy," Mester said.
The current pain a lot of people are experiencing isn't going away any time soon.