Senior Fed official suggests skipping rate hike next month

Agence France-Presse

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='File photo dated Jan. 22, 2008 showing the US Federal Reserve building in Washington, DC., USA. Matthew Cavannaugh, EPA-EFE/File' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2022/tvpatrol/06/03/us-federal-reserve-building.jpg' ><figcaption>File photo dated Jan. 22, 2008 showing the US Federal Reserve building in Washington, DC., USA. <em>Matthew Cavannaugh, EPA-EFE/File</em></figcaption></figure></div><p>WASHINGTON — A senior Federal Reserve official tapped for the number two position at the US central bank said that pausing interest-rate hikes would give the Fed time to weigh additional economic data.</p><p>"Skipping a rate hike at a coming meeting would allow the Committee to see more data before making decisions about the extent of additional policy firming," Fed governor Philip Jefferson told a conference in Washington in prepared remarks.</p><p>The Federal Reserve has raised interest-rates 10 times since it began an aggressive campaign to tackle inflation and bring it back down to its long-run target of two percent.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/05/10/23/top-us-fed-official-does-not-rule-out-further-rate-hike'>Top US Fed official does not rule out further rate hike</a></li>	<li><a href='https://news.abs-cbn.com/business/05/04/23/us-fed-hikes-key-interest-rate-by-025-point-to-curb-inflation'>U.S. Fed hikes key interest rate by 0.25 point to curb inflation</a></li></ul><p>Fed officials are now divided on the best path forward ahead of another interest-rate decision to be announced on June 14, with some in favor of continuing to hike and others coming out in support of a pause.</p><p>Jefferson added that "a decision to hold our policy rate constant at a coming meeting should not be interpreted to mean that we have reached the peak rate for this cycle," suggesting he did not think the Fed was necessarily done with interest-rate hikes going forward.</p><p>With two weeks before the next rate decision is announced, futures traders now assign a greater-than 60 percent chance that the Fed will follow through with another interest-rate hike on June 14, according to data from CME Group.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/video/business/05/19/23/bsp-seen-to-keep-interest-rate-at-current-level-fitch-ratings'>BSP seen to keep interest rate at current level: Fitch Ratings</a></li></ul><p><strong>RELATED VIDEO</strong></p><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2453523' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/05/10/23/top-us-fed-official-does-not-rule-out-further-rate-hike'>Top US Fed official does not rule out further rate hike</a></li>	<li><a href='https://news.abs-cbn.com/business/05/04/23/us-fed-hikes-key-interest-rate-by-025-point-to-curb-inflation'>U.S. Fed hikes key interest rate by 0.25 point to curb inflation</a></li></ul><p>Fed officials are now divided on the best path forward ahead of another interest-rate decision to be announced on June 14, with some in favor of continuing to hike and others coming out in support of a pause.</p><p>Jefferson added that "a decision to hold our policy rate constant at a coming meeting should not be interpreted to mean that we have reached the peak rate for this cycle," suggesting he did not think the Fed was necessarily done with interest-rate hikes going forward.</p><p>With two weeks before the next rate decision is announced, futures traders now assign a greater-than 60 percent chance that the Fed will follow through with another interest-rate hike on June 14, according to data from CME Group.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/video/business/05/19/23/bsp-seen-to-keep-interest-rate-at-current-level-fitch-ratings'>BSP seen to keep interest rate at current level: Fitch Ratings</a></li></ul><p><strong>RELATED VIDEO</strong></p><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2453523' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

<p>"Skipping a rate hike at a coming meeting would allow the Committee to see more data before making decisions about the extent of additional policy firming," Fed governor Philip Jefferson told a conference in Washington in prepared remarks.</p><p>The Federal Reserve has raised interest-rates 10 times since it began an aggressive campaign to tackle inflation and bring it back down to its long-run target of two percent.</p>

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='File photo dated Jan. 22, 2008 showing the US Federal Reserve building in Washington, DC., USA. Matthew Cavannaugh, EPA-EFE/File' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2022/tvpatrol/06/03/us-federal-reserve-building.jpg' ><figcaption>File photo dated Jan. 22, 2008 showing the US Federal Reserve building in Washington, DC., USA. <em>Matthew Cavannaugh, EPA-EFE/File</em></figcaption></figure></div><p>WASHINGTON — A senior Federal Reserve official tapped for the number two position at the US central bank said that pausing interest-rate hikes would give the Fed time to weigh additional economic data.</p>

A senior Federal Reserve official said that pausing interest-rate hikes would give the Fed time to weigh additional economic data. 

Senior Fed official suggests skipping rate hike next month | ABS-CBN News

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Senior Fed official suggests skipping rate hike next month

Senior Fed official suggests skipping rate hike next month