Reuters logo
Fed's Kashkari: Sluggish growth likely for foreseeable future
October 14, 2016 / 2:02 AM / a year ago

Fed's Kashkari: Sluggish growth likely for foreseeable future

(Reuters) - Minneapolis Fed President Neel Kashkari said on Thursday that sluggish growth in the U.S. economy will likely remain for the foreseeable future.

Minneapolis Fed President Neel Kashkari speaks during an interview at Reuters in New York February 17, 2016. REUTERS/Brendan McDermid

“We’re not forecasting a recession, but we’re also not forecasting a booming economy,” Kashkari said at a town hall meeting in Montana streamed live on the bank’s website.

He said it would likely remain “sluggish.”

Kashkari is not a voting member on the Fed’s rate-setting committee until next year, but takes part in deliberations.

He has yet to comment on when he would prefer to see a rate increase, but has said he is more worried about raising rates too quickly than too slowly.

Most Fed policymakers are backing a rate hike by year’s end should the labor market and inflation continue to firm.

Reporting by Lindsay Dunsmuir in Washington; Editing by Sandra Maler

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below