Fed's Kashkari: I could support another 75 bps in July

• I supported 75 bps and could support another 75 bps in July
• Prudent strategy might be to continue with 50 bps hikes after July meeting
• I assume we will be able to 'relax' policy somewhat in 2024
• If supply shocks abate we may not need to raise rates as high as otherwise
• A steady approach to raising rates may help us avoid tightening more than necessary

The 75 bps hike this week was anything but 'steady'. I agree with him that if they'd established 50 as a consistent baseline it would be credible but now it looks like all their commentary is meaningless until the leak to the WSJ 24 hours before the meeting.

EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term/USD is at the lows of the day, down 80 pips to 1.0464.