In an event in London overnight, Minneapolis Fed President Neel Kashkari stated that the likelihood of raising interest rates again is “quite low,” although he emphasized, “I don’t want to take anything off the table.”
Kashkari pointed out that “wage growth is still quite robust relative to ultimately what we think would be consistent with the 2% inflation target,” suggesting that the labor market remains strong. He emphasized the need for a careful assessment of the downward pressure being placed on demand before making any further policy decisions.
When discussing his input for the upcoming dot plot, Kashkari expressed the importance of having comprehensive data before drawing any conclusions. However, he assured that “it certainly won’t be more than two cuts” this year, as he had projected in the last dot plot.
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