FED member Neel Kashkari made evaluations about the US economy and possible interest rate cuts in his statement on CBS's Face the Nation program today.
Kashkari said the Fed needs to see more evidence to be convinced that inflation is heading towards 2%. He also noted that the U.S. economy is currently stronger than other countries that have lowered interest rates.
Kashkari also commented that the labor market performed better than expected.
Interestingly, Kashkari stated that it is reasonable to expect a rate cut in December. He emphasized that the Fed is in a very good position to take its time and gather more data before making a decision on interest rates. Finally, Kashkari said that the median forecast is for a rate cut, which will probably happen towards the end of the year.
This is in line with his previous statement about a possible interest rate cut in December.
*This is not investment advice.
