According to Odaily, Federal Reserve's Balkin has expressed a strong sense that interest rates are currently at a restrictive level. He suggested that a single rate cut followed by maintaining the unchanged rate might be a reasonable scenario. Balkin also stated that he always maintains an open attitude and believes that interest rate adjustments should be made based on data. This statement comes amidst ongoing discussions about the future direction of interest rates in 2024.
Fed's Balkin Suggests Interest Rates Are At Restrictive Level
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