Fmr. Fed president explains why the Fed should remain on pause

From youtube.com/yahoofinance

The Federal Reserve is maintaining a policy of keeping rates higher for longer. With inflation cooling, many on Wall Street now think the Fed will start rate cuts as early as May 2024. Former Kansas City Fed President Esther George joins Yahoo Finance to weigh in on the Fed's policies and the outlook for inflation going forward. George comments on the potential of the Fed's next move: "As we've seen, coming out of that last FOMC meeting, there was a tremendous response of anticipating rate cuts and I think the caution for me, is that the Fed is not at its 2% target. They are being mindful that they may be able to back off of some of these interest rates once they become fully convinced, but, right now, this is a forecast of inflation continuing to fall." Watch the video above to find out why George says why it would "serve the Fed well" to keep watching the data. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.