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FED: Kashkari Sees Modest Cuts Over Next Quarters

FED
USGlobalEM BulletFederal ReserveCentral Bank NewsFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
  • Ongoing comments from Fed’s Kashkari who reiterates the Federal Reserve definitely wants to avoid a recession and that it was the signs of the labor market weakening that prompted the decision to cut by 50bps.
  • Kashkari repeats the Fed will look at the totality of the data to decide on rate policy, and that right now, he sees modest cuts over the next quarters.
  • Any evidence of a quicker weakening of the labor market could lead to faster rate cuts:
  • "If the labor market weakens surprisingly, that would cause me to take a fresh look at my 'dots,'" Kashkari said in a town hall at the Chippewa Falls Area Chamber of Commerce, using "dots" as short-hand for his view of the appropriate path ahead for interest rates. Currently, he said, he believes rates are putting the brakes on the economy. [RTRS]
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  • Ongoing comments from Fed’s Kashkari who reiterates the Federal Reserve definitely wants to avoid a recession and that it was the signs of the labor market weakening that prompted the decision to cut by 50bps.
  • Kashkari repeats the Fed will look at the totality of the data to decide on rate policy, and that right now, he sees modest cuts over the next quarters.
  • Any evidence of a quicker weakening of the labor market could lead to faster rate cuts:
  • "If the labor market weakens surprisingly, that would cause me to take a fresh look at my 'dots,'" Kashkari said in a town hall at the Chippewa Falls Area Chamber of Commerce, using "dots" as short-hand for his view of the appropriate path ahead for interest rates. Currently, he said, he believes rates are putting the brakes on the economy. [RTRS]