off-the-wire

Fed's independence 'foundational' to better economic outcomes, Kashkari says

Kitco Media
By Reuters
Published:
Updated:
Reuters
Fed's independence 'foundational' to better economic outcomes, Kashkari says teaser image

April 22 (Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari, asked about President Donald Trump's vocal attacks on Fed Chair Jerome Powell for not cutting interest rates, said on Tuesday the Fed's monetary policy independence is foundational and the key to better economic outcomes.

Kashkari, speaking at the U.S. Chamber of Commerce Global Summit in Washington, D.C., also noted that it's too soon to judge the right path of interest rates.

He also said the recent rise in Treasury yields along with a weakening of the dollar suggests some investors are reassessing whether to invest in the United States, adding that a reduction in capital flows could lead to higher interest rates in the U.S.

Reporting by Ann Saphir

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