February 11, 2020 / 7:59 PM / 17 days ago

Fed's Kashkari says monetary policy is not very accommodative

Feb 11 (Reuters) - The Federal Reserve’s monetary policy is delivering no more than a small boost to the economy, Minneapolis Federal Reserve Bank President Neel Kashkari said Tuesday.

After cutting interest rates three times last year, the Fed now targets short-term borrowing costs at between 1.5% and 1.75%. That puts policy “close to neutral or slightly accommodative today, but not very accommodative,” Kashkari said at a Town Hall streamed live from Kalispell, Mont.

Kashkari had called for deeper and faster rate cuts to cushion the economy from the effects of trade policy uncertainty and slowing growth than the Fed actually delivered. (Reporting by Ann Saphir; Editing by Chizu Nomiyama)

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