Another Fed official rejects early rate cuts

By Agence France-Presse

Feb 08, 2024 12:25 am

WASHINGTON: It would be a 'mistake' for the US Federal Reserve to start cutting interest rates too soon despite recent progress against inflation, a senior Fed official said Tuesday.

The Fed has rapidly raised interest rates to a 23-year high as it looks to reduce inflation towards its long-term target of 2 percent.

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