Fed policy is ‘modestly restrictive,’ Kashkari says
3:31 pm Tuesday, November 12th, 2024
(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari said he feels U.S. monetary policy is currently “modestly restrictive,” with short-term borrowing costs continuing to slow inflation and the economy, but not by a lot.
“The U.S. economy is in a good place,” Kashkari said at a Yahoo! Finance event.
“In my judgment we are still at a modestly contractionary stance, but ultimately the economy will guide us, in terms of how far we are needing to go” in cutting interest rates further.
(Reporting by Ann Saphir; Editing by Chris Reese)
