Salem Radio Network News Sunday, February 25, 2024

Business

US monetary policy “appropriate”, should remain at current levels to reduce inflation -IMF

(Reuters) – Monetary policy in the United States continues to be appropriate, and interest rates will need to remain at current levels in order to “durably” reduce inflation, the International Monetary Fund said on Thursday.

The US economy has proven to be “quite resilient,” said IMF spokesperson Julie Kozack in a scheduled press briefing.

“Interest rates will likely need to stay at current levels well into 2024,” Kozack added.

U.S. benchmark bond yields edged up from three month lows on Thursday ahead of key payrolls data expected on Friday.

Futures markets are pricing in a 25 basis point rate cut by the U.S. Federal Reserve in March.

(Reporting by Rodrigo Campos and Jorgelina do Rosario)

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