Nobel Prize-winning economist Paul Krugman said he sees good reasons for the Federal Reserve to consider halting its interest rate increases temporarily to assess the effects of its hikes on the US economy so far this year.
"My view is that the Fed has probably already done enough, that it really has to stop and evaluate the indicators," Krugman added.
He continued, "If we get another good CPI report, there will be a lot of question about whether the Fed's policies are too hawkish."
Official data showed that the US inflation index rose less than expected last month, supported by declines in the prices of Medicare services and used vehicles.
A separate report released on Friday pointed to an increase in Americans' expectations of short- and long-term inflation.
This year, the Federal Reserve is implementing the toughest tightening since the 1980s in an attempt to tame decades of high inflation.
The central bank raised interest rates by 75 basis points for the fourth time in a row at its last meeting, but is expected to limit the pace of rate hikes as soon as next month after the lower-than-expected inflation report.
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