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Fed's Kashkari tweets scepticism on inflation after data

Reuters  |  SAN FRANCISCO 

By Ann Saphir

(Reuters) - A rise in underlying last month was not enough to convince at least one Federal Reserve policymaker that further hikes will soon be needed to keep a lid on rising prices.

A government report Friday showed core U.S. consumer prices rose the most in 11 months in December, bolstering expectations that will accelerate this year.

"I, for one, need to see more data," Neel said on Twitter, pushing back on the idea that gains will convince policymakers that is on the upswing.

After the report, traders of short-term rate futures boosted bets the will raise rates this year, and the yield on the two-year rose.

Kashkari, one of two policymakers to dissent on last month's decision to raise interest rates, is the only policymaker who uses regularly to signal his policy views.

(Reporting by by Chizu Nomiyama)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 13 2018. 01:40 IST