US Fed Governor Adriana Kugler said she would continue to watch the economic data 'closely'. That's because high interest rates have pushed the Fed's favored inflation gauge down from a high of more than seven percent in 2022 to an annual rate of less than two percent over the last six months. At the same time, hiring and economic growth have remained robust, raising hopes of an end to high interest rates. Speaking earlier the same day, Fed Governor Adriana Kugler also indicated she believed the US central bank should pause for a little longer before acting on interest rates. They have assigned a probability of more than 65 percent that the US central bank will have begun lowering interest rates by the time of its following meeting in May.

Source: Daily Nation February 08, 2024 07:34 UTC