The U.S. Federal Reserve should continue to cut interest rates in order to offse...
FILE PHOTO: President of the Federal Reserve Bank on Minneapolis Neel Kashkari listens to a question during an interview in New York, U.S., March 29, 2019. REUTERS/Shannon Stapleton
- The U.S. Federal Reserve should continue to cut interest rates in order to offset growing risks to the economy, Minneapolis Federal Reserve Bank President Neel Kashkari said on Monday. “My message is clear: we should be supporting the economy, not tapping the brakes on the economy so I want to look at the data over the next few months but so far I am happy that we’re cutting interest rates,” Kashkari said during an event in Prior Lake, Minnesota.
“How much more do we have to cut? I don’t know yet,” he said, citing slowing global growth, weakening business investment and inflation that is below the central bank’s 2% target as economic risk factors.
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