Fed's Kashkari: No More Than 2 Rate Cuts Expected in June Economic Forecasts

Fed's Kashkari reportedly said that he does not expect more than 2 rate cuts in the June economic forecast. He believes that inflation looks set to remain stable for some time and more patience may be needed. The U.S. economy is in good shape, but failure to meet the 2% inflation target would damage the Fed's credibility. What is more likely than a rate hike is to keep rates at current levels longer than the public expects, not that monetary policy is not having an impact, just not as much or as fast as expected.