Three US Federal Bank (Fed) officials did not look very warm in the idea of reducing interest rates next month, as investors are preparing for the speech of US Central Bank President Jerom Powell at the Jackson Conference at Jackson.
“I go to every meeting with an open mind,” Cleveland Federal Bank President Beth Hamak said in an interview with the Yahoo Finance on the sidelines of the three -day symposium, organized by the Federal Bank. “However, with the data I have right now and with the information I have, if the meeting was tomorrow, I would not see a reason for reducing interest rates,” Hamak said.
Speaking to CNBC, Kansas City Federal Bank President Jeffrey Schmid said: “I think we are in a very good position and I think we need to have a lot of clear evidence to move on to this policy right now.”
In a separate public appearance, Atlanta’s Federal Bank President Raphael Bostic said there would be a reduction in interest rates this year, but added that any provision is surrounded by uncertainty and “I’m not stuck in anything”.
The three Fed officials expressed their views before Powell’s long-awaited speech on Friday, which, as investors hope, will provide clear evidence of whether the Central Bank plans to reduce interest rates at its meeting on September 16-17.
Source: Skai
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