Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari published an essay in the Minneapolis Fed website on Monday, explaining why he supported the 50 basis points (bps) interest rate cut delivered by the central bank last week.
Fed eral Reserve Bank of Minneapolis President Neel Kashkari published an essay in the Minneapolis Fed website on Monday, explaining why he supported the 50 basis points interest rate cut delivered by the central bank last week.
” He put a pinch of salt, saying that the “economy continues to offer mixed signals about its underlying strength. While a softening labor market suggests a weakening of economic activity, other economic measures suggest ongoing strength. For example, GDP and consumer spending continue to show surprising resilience, suggesting still-solid underlying demand.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed meeting live updates: Fed lowers interest rates by half point, its first cut since 2020The Federal Reserve slashed interest rates by 50 basis points at the conclusion of its September policy meeting.
Read more »
Fed's Goolsbee: There is an overwhelming Fed consensus for multiple rate cutsFederal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that Fed officials are finally beginning to catch up with the broader market's view that the time has come for movement from the US central bank on policy rates, but downplayed discussion of a larger opening cut in September.
Read more »
Fed’s Daly: Fed needs to cut policy rate because inflation is falling, economy is slowingOn Thursday, San Francisco Federal Reserve President Mary Daly said that the “Fed needs to cut policy rate because inflation is falling and the economy is slowing.” Additional comments On size of Sept Fed rate cut, 'we don't know yet'.
Read more »
Don’t delay on STAR ID, federal official tells AlabamiansLow adoption rates among driver license holders have caused concern for the feds.
Read more »
Alaska pursues appeal of $17.5 million penalty over federal education funding equity disputeFeds say Gov. Dunleavy's veto and state inaction are to blame for the penalties; state officials have said feds previously approved state approach to funding.
Read more »
Timing of raid on NYPD interim commish's home raises questionsFeds raid home of interim NYPD Commish Thomas Donlon
Read more »