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'What's the rush' on interest rate hikes, asks Fed's Kashkari
June 27, 2017 / 10:09 PM / 5 months ago

'What's the rush' on interest rate hikes, asks Fed's Kashkari

June 27 (Reuters) - With inflation low and wages showing little sign of an upward surge, the U.S. Federal Reserve should not be raising interest rates, Minneapolis Fed President Neel Kashkari said on Tuesday.

“What’s the rush?” Kashkari asked at an event in Houghton, Michigan, adding that neither wage nor inflation data is giving any sign that the economy is about to overheat and indeed may suggest that there is still some slack in the labor market. The Fed raised rates twice this year, including earlier this month, and Kashkari dissented both times. (Reporting by Ann Saphir; Editing by Leslie Adler)

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