US Fed official says no urgency to cut rates, flags distorted data

WASHINGTON, United States — A key US Federal Reserve official said Friday that he sees no need to rush to cut interest rates further, adding that challenges with data collection likely distorted recent inflation numbers. In a CNBC interview, New York Fed President John Williams noted that government officials were unable to collect data on inflation in October and the first half of November. The government had undergone a record-long shutdown during that period. “Because of that, I think the data were distorted in some of the categories, and that pushed down the (consumer price index) reading probably by a 10th […]... Keep on reading: US Fed official says no urgency to cut rates, flags distorted data