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Economic news
07.02.2024

Minneapolis Fed president Kashkari says he sees 2-3 rate cuts this year as appropriate

Minneapolis Federal Reserve president Neel Kashkari told CNBC that given the resilience of the economy, the rate-setters can take more time to assess incoming data before cutting rates. 

The official also added that sees 2-3 rate cuts this year as appropriate based on what he knows now. However, he noted that the rate cuts would happen more quickly if the labour market slowed down materially.

Kashkari also said that the Fed isn't necessarily looking for better inflation data, just a continuation of the same inflation data showing an encouraging annualised rate of inflation.

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