Weak inflation erodes conviction at Fed on rate hikes

June 16, 2017 By Ann Saphir and Lindsay Dunsmuir DALLAS/WASHINGTON (Reuters) – When the Federal Reserve raised rates earlier this week, Fed Chair Janet Yellen expressed confidence that recent weak inflation readings were transitory. Fed officials on Friday signaled that doubts are simmering. In an interview with Reuters on Friday, Minneapolis Federal Reserve President Neel Kashkari said he was not alone at the U.S. central bank in his view the Fed should have waited to raise interest rates until it was sure the recent drop in price pressures really is…

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