off-the-wire

Fed policy is 'modestly restrictive,' Kashkari says

Kitco Media
By Reuters
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Reuters
Fed policy is 'modestly restrictive,' Kashkari says teaser image

Nov 12 (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

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