Fed's Kashkari says nothing in data justifies raising interest rates further
No aspect of the job, wage, or inflation data are signaling the need for more interest-rate increases at the moment, said Minneapolis Fed President Neel Kashkari on Tuesday. "Right now, I'm not seeing evidence of pressures that would warrant raising interest rates further," Kashkari said, in a discussion with an audience at the Chamber of Commerce in Rochester, Minnesota. Kashkari has been one of the most dovish regional Fed presidents since he joined the central bank in January 2016. He voted against all three rate increases in 2017, saying he saw no sign of an overheating economy. He will vote again in 2020. Kashkari said wage growth has ticked up but "hasn't taken off." He said the Fed can always raise rates if inflation picks up. "There is no need to snuff the economy before it really heats up," he said.
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