Fed’s Kashkari Says Rates Likely On Hold for a ‘While Longer’
- Minneapolis Fed chief questions restrictiveness of policy
- The comments echoed those made by Kashkari last week
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Federal Reserve Bank of Minneapolis President Neel Kashkari repeated the central bank likely needs to keep interest rates at the current level for “a while longer,” and questioned how much they’re restraining the US economy.
“The biggest uncertainty in my mind is how much downward pressure is monetary policy putting on the economy,” Kashkari said Wednesday at an event in Bismarck, North Dakota. “That’s an unknown — we don’t know for sure. And that tells me we probably need to sit here for a while longer until we figure out where underlying inflation is headed before we jump to any conclusions.”