(Reuters) - Minneapolis Fed President Neel Kashkari said that he could support holding interest rates steady at the central bank's next meeting in June to give officials more time to assess the effects of past rate increases and the inflation outlook, the Wall Street Journal said on Sunday. NEW YORK, NEW YORK - OCTOBER 10: Banker Neel Kashkari attends the Yahoo Finance All Markets Summit at Union West Events on October 10, 2019 in New York City. (Photo by Jim Spellman/Getty Images)However Kashkari, a member of the central bank's rate-setting monetary policy committee, cautioned that his mind was not yet made up: "I would object to any kind of declaration that we're done." While inflation has shown signs of moderating since the summer of 2022, it remains well above the Fed's 2% target. The Fed has faced calls to refrain from further tightening to lessen the risk of driving the U.S. economy into recession.

Source: Wall Street Journal May 21, 2023 21:51 UTC