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MNI: Fed's Kashkari - Supported 50BP Cut, Policy Still Tight

Minneapolis Fed president publishes essay on decision to support last week's large rate cut.
USCentral Bank NewsPolicy NewsHomepageFederal ReserveEM Policy NewsEM BriefBriefGlobalStoryRegionNorth America

MNI (WASHINGTON) - Minneapolis Fed President Neel Kashkari said Monday he supported the Federal Reserve's decision last week to cut rates by 50 basis points given recent progress on inflation, arguing policy remains tight and future reductions will be determined by the data. 

"Even after that cut, the overall stance of policy remains tight. Our path forward will depend on the totality of the incoming data for economic activity, the labor market and inflation," Kashkari wrote in an essay posted online. 

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MNI (WASHINGTON) - Minneapolis Fed President Neel Kashkari said Monday he supported the Federal Reserve's decision last week to cut rates by 50 basis points given recent progress on inflation, arguing policy remains tight and future reductions will be determined by the data. 

"Even after that cut, the overall stance of policy remains tight. Our path forward will depend on the totality of the incoming data for economic activity, the labor market and inflation," Kashkari wrote in an essay posted online. 

Keep reading...Show less