Fed’s Kashkari backs 50bps cut, shifts focus to labor market weakness

In an essay, Minneapolis Fed President Neel Kashkari provided insight into his support for last week’s 50bps rate cut, despite not having a vote on the decision. “We have made substantial progress bringing inflation back down toward our 2 percent target, and the labor market has softened,” he said. Kashkari noted that the balance of […]

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