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MNI BRIEF: Fed's Kashkari Sees Modest Cuts In Coming Quarters

Minneapolis Fed President says

MNI (WASHINGTON) - Minneapolis Fed President Neel Kashkari on Monday said he expects a "modest" decrease in the central bank's policy rate in coming quarters, but added that if the labor market surprisingly weakens then he could see a quicker fall in interest rates. 

"Right now, I'm forecasting some more modest cuts over the next several coming quarters to get to something around neutral, but it's going to depend on the data," he said in Q&A in Chippewa Falls, Wisconsin. "Even after the 50 basis point cut, I still think my monetary policy is still putting our feet on the brakes of the economy." (See: MNI POLICY: Fed To Scale Back To 25BP As US Outlook Stays Rosy)

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MNI (WASHINGTON) - Minneapolis Fed President Neel Kashkari on Monday said he expects a "modest" decrease in the central bank's policy rate in coming quarters, but added that if the labor market surprisingly weakens then he could see a quicker fall in interest rates. 

"Right now, I'm forecasting some more modest cuts over the next several coming quarters to get to something around neutral, but it's going to depend on the data," he said in Q&A in Chippewa Falls, Wisconsin. "Even after the 50 basis point cut, I still think my monetary policy is still putting our feet on the brakes of the economy." (See: MNI POLICY: Fed To Scale Back To 25BP As US Outlook Stays Rosy)

Keep reading...Show less