Minneapolis Fed Chair Kashkari: Single Rate Cut This Year, if at all, Likely To Come Later in the Year

IconCryptoNewsTerminal Staff17 Jun, 2024

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Minneapolis Fed Chair Kashkari: Single Rate Cut This Year, if at all, Likely To Come Later in the Year

Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, said on CBS on Thursday that it's "reasonable" to expect the Fed to wait until later this year to cut interest rates, if at all. "We're in a good position to just take our time and see how much more inflation we get, how the economy does, and how the labor market does before we make that decision," he added. Kashkari's comments come as the Fed is widely expected to cut interest rates later this year amid concerns about slowing economic growth and the impact of the trade war with China. However, Kashkari's comments suggest that the Fed may be more cautious about cutting rates than some market participants expect.

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