off-the-wire

Fed's Kashkari says he currently sees 2 to 3 rate cuts this year

Kitco Media
By Reuters
Published:
Updated:
Reuters

Feb 7 (Reuters) - The Federal Reserve should likely reduce its policy rate two or three times this year based on the information on the economy currently in hand, Minneapolis Fed President Neel Kashkari said on Wednesday, even as he cautioned he could change his mind as more inflation data comes in.

"Sitting here today I would say two to three cuts would seem to be appropriate for me right now...that's my gut based on the data we have so far," Kashkari said in an interview with broadcaster CNBC

Kashkari added if the labor market continues to be strong, the U.S. central bank could reduce interest rates "quite slowly" but if there was a material slowdown it might have to go more quickly.

Reporting by Lindsay Dunsmuir; Edited by

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