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☆ Fed's Neel Kashkari expects only two or three interest rate cuts this year
▼ + stars: | 2024-02-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York City, New York, May 22, 2023. Minneapolis Federal Reserve President Neel Kashkari said Wednesday that he expects the central bank to cut rates only a few times this year, contrary to market expectations. "We just need to look at the actual inflation data to guide us," Kashkari said. He added that there are "compelling arguments to suggest we could be in a longer, higher rate environment going forward." Kashkari said the trend indicates that interest rates may not be exerting as much pressure on the economy as expected.

Persons: Neel Kashkari, Jerome Powell, Kashkari Organizations: Federal Reserve Bank of Minneapolis, Reuters, Minneapolis Federal, CNBC, CBS, Market, Minneapolis Fed, Labor Locations: New York City , New York, Minneapolis

☆ Fed's Neel Kashkari isn't sure if interest rates are high enough to stop inflation
▼ + stars: | 2023-09-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Minneapolis Federal Reserve President Neel Kashkari said Wednesday he's unsure whether the central bank has raised interest rates enough to tame inflation. "It's possible given the dynamics of the reopening of the economy, that the neutral rate may have moved up." Some of his concerns stem from the fact that sectors of the economy that normally are affected by rate hikes seem to be ignoring them. "If we have to keep rates higher for longer, it's because the economic fundamentals are even stronger than I appreciate and the [economic] flywheel is spinning," he said. "It isn't obvious to me that that means that a recession is more likely, it just might mean that we need a higher rate path to get inflation back down to 2%."

Persons: Neel Kashkari, Kashkari Organizations: Minneapolis Federal, CNBC, Market Locations: Minneapolis

☆ Fed's Neel Kashkari sees 40% chance of 'meaningfully higher' interest rates
▼ + stars: | 2023-09-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, attends an interview with Reuters in New York City, New York, U.S., May 22, 2023. Minneapolis Federal Reserve President Neel Kashkari thinks there's nearly a 50-50 chance that interest rates will need to move significantly higher to bring down inflation. In that instance, the inflation rate falls but stays above the Fed's 2% target, posing a challenge for policymakers. Noting that rate-sensitive areas such as housing and autos have held strong despite Fed tightening, Kashkari remarked, "These dynamics raise the question, How tight is policy right now? Services inflation, excluding the cost of renting shelter, has been coming down, but has otherwise remained elevated, raising longer-term concerns.

Persons: Neel Kashkari, there's, Kashkari Organizations: Federal Reserve Bank of Minneapolis, Reuters, Minneapolis Federal Locations: New York City , New York, U.S, Minneapolis

☆ Morning Bid: Fed's hawkish pause keeps pressure on markets
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +3 min

Global markets have been feeling the heat as U.S. bond yields surged and a strengthened dollar hit a six-month high following the Federal Reserve's hawkish tone last week. The euro zone central bank also struck a relatively dovish tone. But markets will have plenty of material to pore over this week as they try to glean future Fed moves. In the euro zone, ECB President Christine Lagarde kicks off a string of speeches and remarks this week. Markets are expecting that the euro zone's central bank is done hiking.

Persons: Jonathan Ernst, Brigid Riley, Neel Kashkari, Christine Lagarde, Francois Villeroy de Galhau, Isabel Schnabel, Fed's Neel Kashkari, Edmund Klamann Organizations: . Federal, REUTERS, Brigid, Brigid Riley Investors, Global, Federal Reserve, U.S, Minneapolis, China, HK, ECB policymaker, Bank of France, ECB, Thomson Locations: Washington, U.S, Europe, Britain, Switzerland, Japan, China, Hollywood

REUTERS/Aly Song/File Photo Acquire Licensing RightsSept 26 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Goldman Sachs' financial conditions indexes for China and emerging markets at large are the highest in almost a year. In China, meanwhile, the property sector is back under the spotlight after shares of property developer Evergrande tumbled 21% on Monday on renewed uncertainty about the firm's debt restructuring. The broader property sector index fell 2.5%. Evergrande shares, but the company is systemically important - it is the world's most indebted developer and the property sector accounts for roughly a quarter of China's economy.

Persons: Aly, Jamie McGeever, Goldman Sachs, Evergrande, Valdis Dombrovskis, Fed's Neel Kashkari, Josie Kao Organizations: China Evergrande Group, REUTERS, U.S, Treasury, Global, Deutsche Bank, Barclays, Union, Thomson, Reuters Locations: Danzhou, Hainan province, China, Asia, Japan, U.S, Beijing, Singapore

☆ Inflation: Fed's Neel Kashkari says prices are still too high
▼ + stars: | 2023-02-07 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN —Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, understands that consumers are still struggling to deal with high prices. Kashkari told CNN’s Poppy Harlow Tuesday that he knows first hand how expensive many consumer goods and services are. Job market strength fueling more inflationKashkari acknowledged that inflation pressures are easing, but said the Fed is still not comfortable with how high prices are, particularly for services. He told Harlow he’s penciling in short-term rates as high as 5.4% before pausing. It’s hard to have a recession when the job market is still so robust, he told Harlow.

☆ Fed's Neel Kashkari says central bank has not made enough progress, keeping his rate outlook
▼ + stars: | 2023-02-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

We know that raising rates can put a lid on inflation," Kashkari told CNBC during a Tuesday morning interview on " Squawk Box ." Kashkari's indication that the fed funds rate needs to rise to 5.4% puts him in a more aggressive slot compared to his fellow policymakers, who indicated in December that they see the "terminal rate," or end point of hikes, around 5.1%. The funds rate is what banks charge each other for overnight lending but feeds into a multitude of consumer debt instruments such as car loans, mortgages and credit cards. Since March 2022, the Fed has raised its benchmark funds rate eight times, after inflation hit its highest rate in more than 40 years. Still, inflation levels, though easing, are well ahead of the Fed's target, and policymakers have indicated that more rate increases are on the way.

☆ Watch Federal Reserve Chair Jerome Powell discuss inflation, interest rates and the economy
▼ + stars: | 2023-02-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Federal Reserve Chairman Jerome Powell speaks Tuesday afternoon in a question-and-answer session with Carlyle Group Chairman David Rubenstein. The discussion comes less than a week after the Fed raised its benchmark interest rate another quarter percentage point to a target range of 4.5%-4.75%. Following the move, Powell said he sees some signs that inflation is cooling in the economy but added that the central bank needs to keep up its guard. Read more:Fed's Neel Kashkari says central bank has not made enough progress, keeping his rate outlookThe Fed raised rates. Chair Powell says it's 'premature' to declare victory against inflationImportant wage inflation measure for the Fed rose less than expected in Q4

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