More from Fed's Kashkari:
- It was not the labor market that caused inflation
- Very few transactions happened on crypto, unless it's drugs or illegal activity
- Immigration policy will affect our reading of the labor market
- Tariffs shouldn't be themselves leading to ongoing inflation probably a one-time change in price level
- Definitely want to avoid a recesion.
- Saw signs of labor market weakness which is why cut 50 bps
- Going forward, we will look at all the data to decide on rate policy.
- Evidence of quick labor market weakening could lead to faster rate cuts
- Right now I see modest cuts over the next quarters
Later today at 5:05 PM ET, Kansas City Fed Pres. Schmid is to speak about the economic outlook and monetary policy at the Chartered Financial Analysts Society, in Kansas City. Audience questions expected.
Then at 6:40 p.m. ET, San Francisco Fed Pres. Daly is due to participate in a moderated discussion at an event hosted by the Wall Street Journal, in California.
