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Federal Reserve Kashkari: Does Not Support Rate Cut Last Month, Takes Wait-and-See Approach for December Decision
BlockBeats News, November 14th, Minneapolis Fed President Kashkari stated that he did not support the Fed's last rate cut decision, but remains cautious about the best course of action for the December meeting. He stated on Thursday: "Based on the piecemeal evidence and data we have received, the underlying resilience of economic activity appears stronger than I expected. The Fed should have paused its rate cuts at the October meeting. Since then, existing data indicates that the economic situation has 'essentially remained the same'."
Regarding the upcoming December rate decision, Kashkari stated: "I can make a case for cutting based on the data, I can make a case for standing pat, so we'll see." Kashkari had previously indicated after the September meeting that he expected two more rate cuts by 2025. (FXStreet)
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