“Until I see some compelling evidence that core inflation has at least peaked, not ready to declare a pause in rate hikes,” Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday per Reuters.

Additional comments

Without help from supply side, Fed needs to do more.

Inflation is much too high.

We are getting a lot of mixed signals.

There is some evidence job market is slowing down.

Fed needs to be aware of feedback to the US economy from the strong dollar and other global feedback loops.

Fed does not set monetary policy for the world.

My confidence in where inflation will be in six months is very low.

It’s a head-scratcher, if this is a tight labor market, why labor share is not rising.

Our job is to bring inflation down.

Global central bankers are united in desire to bring inflation down.

We pay a lot of attention to what’s happening in the UK economy, it matters.

EUR/USD grinds higher

The news failed to get any major response from the market, may be due to the usual inactive hours of trading, while the EUR/USD pair remains sidelined near the five-week-old resistance surrounding 0.9860.

This article was originally published by Fxstreet.com.Read the original article here.

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