I’m certainly not an economist but I can see through the political narrative trying to get interest rates down ahead of a US election. As I have argued here several months ago, I don’t see interest rates coming down anytime soon and I’m not alone. according to an article in The Street, The president of the Minneapolis Federal Reserve Bank was clear Tuesday that he believes the Federal Reserve should not rush to to cut interest rates, and he offered up the possibility rates may actually have to move higher before the Fed starts to begin trimming. To support a rate cut, Kashkari wants real evidence that inflation is headed for a sustained pullback to the Fed’s 2% target. And it is not likely to appear before the Fed’s next meeting on June 11-12. Mostly, inflation is stuck at just under 3.5%. Meanwhile, CNBC reported last weekend that it doesn’t expect the Fed to deliver interest rates this summer. “The economy may not be cooling off as much as the Fed would like,” said Quincy Krosby, chief global strategist at LPL Financial. “The market takes every bit of data and translates it to how the Fed sees it. So if the Fed is data dependent, the market is probably… continue reading