Consumer-price pressures remain high in the US, suggesting the Fed could hike interest rates again, according to Robert Nardelli.
I think we still got a way to go," the former Home Depot CEO said.
That view is at odds with market expectations that the Fed will likely pause its interest-rate hikes this month.
That could mean the Fed will raise interest rates further, Nardelli said, especially with May's strong payroll report showing the labor market remains robust, with US employers adding 339,000 jobs.
The nation's central bank has already hiked interest rates by 500 basis points since early 2022 in a bid to tame soaring price pressures.
Persons:
Robert Nardelli, —, Nardelli, Neil Cavuto, I've
Organizations:
Home, Service, Federal Reserve, Fox Business, Chrysler