Fed’s Kugler Optimistic of Interest Rate Cut This Year After Poor Retail Sales Data

Published on June 19, 2024

After a disappointing May retail sales report on Tuesday and renewed progress on inflation, Federal Reserve Governor Adriana Kugler is optimistic that an interest rate cut later this year would be appropriate. Although inflation continues to run above the central bank’s 2 percent target, Ms. Kugler noted that recent data and broader economic conditions “are moving in the right direction” for the institution to pivot on monetary policy. “If the economy evolves as I am expecting, it will likely become appropriate to begin easing policy sometime later this year,” Ms. Kugler said in a speech at the Peterson Institute for International Economics on Tuesday, adding that the current policy stance “is sufficiently restrictive to help cool the economy” and restore 2 percent inflation without a recession or significant deterioration of the labor market....

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