Fed's Kashkari: Wary about cutting rates
President of the Federal Reserve (Fed) Bank of Minneapolis Neel Kashkari defended Jerome Powell, the Fed chair, and said that interest rates should be held steady this month in an interview with the New York Times on Wednesday.
Key quotes
Interest rates should be held steady this month.
If monetary policy is really so tight, we should not see an economy that is exhibiting such resilience.
Wary about cutting rates due to elevated inflation, added that Trump’s tariffs would continue to push up prices over time.
On rates and inflation said entirely plausible that we are sitting here well above our target for two to three more years.”
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