Murders, mayhem and officer's gunfire lead to charges at Brooklyn jail where 'Diddy' is held
Sean ‘Diddy’ Combs’ lawyers appeal detention, seeking release from jail ahead of trial
Justice Department will launch civil rights review into 1921 Tulsa Race Massacre
Humberto Ortega, Nicaragua's ex-military chief who later turned critic of his brother, dies at 77
Hurricane Helene hampers early voting efforts in North Carolina
Startling video shows Russian fighter jet flying within feet of US F-16 near Alaska
Amgen must face lawsuit claiming it hid $10.7 billion tax bill
AI chip firm Cerebras files for US IPO
KB Home's longtime CFO Kaminski to retire in early 2025
MLB legend Pete Rose dead at 83
Braves heading back to the playoffs after a season of adversity
Live music, breakfast and a raffle: Mexico's president makes the most of his final day in office
(Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari on Wednesday reiterated his view that he is unsure how restrictive monetary policy is right now, and that borrowing costs should stay where they are as U.S. central bankers take stock of inflation. "The biggest uncertainty in my mind is how much downward pressure is monetary policy putting on the economy? That's an unknown," Kashkari told the Williston Basin Petroleum Conference in Bismarck, North Dakota. "And that tells me we probably need to sit here for a while longer until we figure out where underlying inflation is headed before we jump to any conclusions."
The economy and the housing market have been more resilient than expected, he said, and Americans have been spending more than anticipated given the increase in the Fed policy rate to its current 5.25%-5.5% range.
Kashkari did not comment on government data released Wednesday that showed inflation edged down in April, after proving stronger than expected during each of the first three months of the year.
(Reporting by Ann Saphir; Editing by Chizu Nomiyama)
