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Fed's Kashkari: any surprise job market weakness could trigger rethink of rate-cut pace
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Fed's Kashkari: any surprise job market weakness could trigger rethink of rate-cut pace
Oct 22, 2024 12:45 PM

(Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari on Monday repeated he expects "modest" interest-rate cuts over the coming quarters, though a sharp weakening of labor markets could move him to advocate for faster rate cuts.     "If the labor market weakens surprisingly, that would cause me to take a fresh look at my 'dots,'" Kashkari said in a town hall at the Chippewa Falls Area Chamber of Commerce, using "dots" as short-hand for his view of the appropriate path ahead for interest rates. Currently, he said, he believes rates are putting the brakes on the economy.

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