Minneapolis Fed Pres. Kashkari: At this moment 2– 3 cuts seems appropriate

  • Monetary policy may not be putting as much downward pressure on demand as we think
  • If labor market continues to be strong, we can dial back policy rate quite slowly
  • At this moment, 2-3 cuts seem appropriate
  • If we can see a few more months of good inflation data, will give confidence on way back to 2% inflation
  • Most commercial real estate sector, aside from office segment is doing well
  • Economy showing to be remarkably resilient
  • So for data has been resoundingly positive. We’re going to have to see how the economy performs.
  • On spending for goods, there seems like there are some longer live consumer and business behaviors behaviors that we are going to have to monitor

Kashkari is a nonvoting member in 2024. He has tended to be more hawkish of late.

This article was written by Greg Michalowski at www.forexlive.com. Source