WASHINGTON: It remains uncertain how far interest rates can fall, though the initial reductions made by the US central bank are a vote of confidence that inflation is returning to its 2% target, Kansas City Federal Reserve (Fed) president Jeffrey Schmid says.
“The decision to lower rates is an acknowledgement of the growing confidence that inflation is on a path to reach the Fed’s 2% objective,” Schmid said in remarks prepared for delivery to the Omaha Chamber of Commerce.
