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FED: Kashkari - 25bp Cut Last Week Would Also Have Been Reasonable

FED
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Kashkari (non-voter) expands on points from his earlier essay in latest comments to CNBC. 

  • He expects to take smaller steps on rate cuts going forward and penciled in two further 25bp cuts this year.
  • That shouldn’t be a surprise seeing as he revealed his dots from last week’s SEP to be exactly in line with the median participant (with looked for an additional 50bp of cuts over the two remaining meetings).
  • Of more note: "*KASHKARI: WOULDN'T HAVE ARGUED AGAINST 25BPS, BOTH REASONABLE" – bbg
  • “*KASHKARI: A LOT OF UNCERTAINTY ON WHERE RATES ULTIMATELY GOING” – bbg
  • “*KASHKARI: HAVE STRONG, HEALTHY LABOR MARKET, WANT TO KEEP IT” – bbg
  • “*KASHKARI: LABOR MARKET HAS NOT BEEN WHAT HAS DRIVEN INFLATION” – bbg 
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Kashkari (non-voter) expands on points from his earlier essay in latest comments to CNBC. 

  • He expects to take smaller steps on rate cuts going forward and penciled in two further 25bp cuts this year.
  • That shouldn’t be a surprise seeing as he revealed his dots from last week’s SEP to be exactly in line with the median participant (with looked for an additional 50bp of cuts over the two remaining meetings).
  • Of more note: "*KASHKARI: WOULDN'T HAVE ARGUED AGAINST 25BPS, BOTH REASONABLE" – bbg
  • “*KASHKARI: A LOT OF UNCERTAINTY ON WHERE RATES ULTIMATELY GOING” – bbg
  • “*KASHKARI: HAVE STRONG, HEALTHY LABOR MARKET, WANT TO KEEP IT” – bbg
  • “*KASHKARI: LABOR MARKET HAS NOT BEEN WHAT HAS DRIVEN INFLATION” – bbg