{"id":1600903,"date":"2022-08-11T10:33:40","date_gmt":"2022-08-11T14:33:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1600903"},"modified":"2022-08-11T10:33:43","modified_gmt":"2022-08-11T14:33:43","slug":"fed-is-far-far-away-from-declaring-win-on-inflation-despite-white-house-victory-lap-kashkari","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-is-far-far-away-from-declaring-win-on-inflation-despite-white-house-victory-lap-kashkari\/","title":{"rendered":"Fed Is \u2018Far, Far Away\u2019 From Declaring Win on Inflation Despite White House Victory Lap: Kashkari"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffed-is-far-far-away-from-declaring-win-on-inflation-despite-white-house-victory-lap-kashkari%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1600903&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The president of the\u00a0Federal Reserve\u00a0Bank of Minneapolis has said that the Central Bank is \u201cfar, far away from declaring victory\u201d on <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a>, despite the Biden administration praising \u201czero percent\u201d inflation in July, which prompted some confusion.<\/p>\n<p>Neel Kashkari <a href=\"https:\/\/www.reuters.com\/markets\/us\/feds-kashkari-far-victory-inflation-sees-sharp-rate-hikes-ahead-2022-08-10\/\">told Reuters<\/a> on Aug. 10 that he believes the\u00a0U.S. central bank will need to raise its policy rate another 1.5 percentage points in 2022 and more in 2023, even if doing so prompts an economic downturn in the \u201cnear future,\u201d noting that\u00a0\u201cWe have to get back to 2 percent inflation.\u201d<\/p>\n<p>The <a href=\"https:\/\/www.theepochtimes.com\/t-fed\">Fed<\/a>\u2019s policy rate will need to be raised\u00a0to 3.9 percent by the end of the year and to 4.4 percent by the end of 2023 to fend off inflation,\u00a0Kashkari said, adding that he hasn\u2019t \u201cseen anything that changes\u201d this outlook.\u00a0The rate is currently in the 2.25 percent to 2.5 percent range.<\/p>\n<p>The Fed is \u201cfar, far away from declaring victory\u201d on inflation, Kashkari noted, although he welcomed July\u2019s\u00a0<a href=\"https:\/\/www.theepochtimes.com\/t-consumer-price-index\">consumer price index<\/a> (CPI) report, which showed the\u00a0U.S. annual\u00a0inflation declined in July from 9.1 percent in June.<\/p>\n<p>According to the\u00a0Bureau of Labor Statistics,\u00a0the Consumer Price Index showed that inflation was at 8.5 percent in July 2022. Experts had predicted\u00a0a reading of 8.7 percent.<\/p>\n<p>Meanwhile, the core inflation rate, which excludes the volatile food and energy sectors, remained unchanged at 5.9 percent last month and reported a smaller monthly increase of 0.3 percent compared with June.<\/p>\n<p>The data prompted President Joe Biden to declare that the U.S. economy had \u201czero percent\u201d inflation in July, which sparked controversy, particularly among experts and Republican lawmakers.<\/p>\n<p> \u2018Zero Inflation\u2019 <\/p>\n<p>\u201cBefore I begin today, I want to say a word about the news that came out today relative to the economy. Actually, I just want to say a number: Zero,\u201d Biden <a href=\"https:\/\/www.theepochtimes.com\/biden-says-economy-had-zero-percent-inflation-despite-remaining-near-record-highs-in-july_4656189.html\">said<\/a> during an address from the White House on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The president of the\u00a0Federal Reserve\u00a0Bank of Minneapolis has said that the Central Bank is \u201cfar, far away from declaring victory\u201d on inflation, despite the Biden administration praising \u201czero percent\u201d inflation in July, which prompted some confusion. Neel Kashkari told Reuters on Aug. 10 that he believes the\u00a0U.S. central bank will need to raise its policy [\u2026]<\/p>\n","protected":false},"author":69,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1600903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1600903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1600903"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1600903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1600903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1600903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1600903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}