Central Banks
Fed’s Kashkari Welcomes Jobs Slowdown But Doesn't Yet See End to Rate Hikes
- Officials need to keep watching data: Minneapolis Fed chief
- Kashkari says slower jobs market gives comfort, is helpful
Neel Kashkari
Photographer: Roy Rochlin/Getty ImagesThis article is for subscribers only.
Federal Reserve Bank of Minneapolis President Neel Kashkari said that while a slowdown in hiring last month is welcome news for the central bank, he doesn’t want to overreact to just one month of data and stop raising interest rates.
“This suggests that the labor market is slowing, which we’re looking for, that’s helpful,” Kashkari said Friday just hours after a government report showed payroll growth slowed in October and the unemployment rate climbed.