KC Fed Pres: We'll Have to Keep Rates Above 5% Until Inflation Is 'Convincingly Starting' to Fall to Goal, Which Won't Be Until Well into 2024

On Thursday's broadcast of CNBC's "Squawk Box," Kansas City Federal Reserve President Esther George stated that she believes the federal fund rates will be over 5% "until we get the signals that inflation is really convincingly starting to fall back toward our 2% goal" and she doesn't believe this will happen until well into 2024.