Kashkari: Does not support last month's rate cut, and is taking a wait-and-see approach to the December decision.
TL;DR
Minneapolis Fed President Neel Kashkari opposes the recent rate cut and advocates for a pause in October. He remains data-dependent for the December decision, open to either cutting or holding rates.
Tags
According to ChainCatcher, Minneapolis Federal Reserve President Neel Kashkari stated that he does not support the Fed's previous rate cut decision, but remains cautiously optimistic about the best course of action at the December meeting. He pointed out that the fundamental resilience of economic activity is stronger than expected, and believes the Fed should pause rate cuts at its October meeting. Regarding the upcoming December interest rate decision, he said he could provide reasons for either cutting rates or maintaining the current level based on data.