Washington: The speed at which US inflation is easing means it will likely be appropriate for the Federal Reserve to start cutting interest rates over the summer, a senior Fed official said Thursday.
The US central bank recently pencilled in three interest rate cuts this year, but did not say when it would begin reducing its key lending rate, sparking speculation in the financial markets.
Key to its decision is whether inflation – down sharply since hitting a multi-decade high in 2022 – continues to close in on the Fed’s long-term target of 2%.
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