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Markets watch the Fed’s next move in New York interview

Neel Kashkari will join CNBC’s Steve Liesman on Wednesday evening for a conversation about the U.S. economy and monetary policy. The Fed official’s comments will be closely watched by markets after the inflation and employment data released the same day.

The interview is scheduled to take place as part of an event set to begin at 6:00 p.m. ET. The program is part of the Council on Foreign Relations’ C. Peter McColough Series on International Economics in New York.

Data revived the debate over rates

The August PCE price index, released earlier in the day, came in below economists’ forecasts. The source text notes that the measure is the one the Fed prefers when tracking inflation.

On the labor side, ADP data showed private-sector payrolls rose by 90,000 in September. That reading also came in above economists’ expectations and drew attention ahead of Friday’s official September jobs report.

  • The PCE reading matters for Fed assessments of the inflation outlook.
  • The ADP employment figure stands out as a fresh signal on the labor market’s direction.

The Fed began raising rates this month

The Federal Reserve (Fed) delivered its first interest rate increase in three years earlier this month. The central bank also signaled that another hike could be on the table in the next period.

For that reason, Kashkari’s remarks will be important, especially for how slower inflation and still-resilient employment are being weighed together. Markets continue to look for clues about the Fed’s next steps in both the latest data and officials’ comments.

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