Fed's Kashkari to back rate cut, but does not expect recession: WSJ

(Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari on Thursday said he did not expect the U.S. economy to enter recession, but would support another rate cut.

"My base-case scenario is still growth, I'm not forecasting recession, but the risks to the downside are increasing," Kashkari told the Wall Street Journal in an interview. https://on.wsj.com/2Vwa9qr

"If the data continues to come in the way it has, I’m going to be supportive of another rate cut."

Kashkari does not have a vote on monetary policy this year but participates in policy discussions at the U.S. central bank.

(Reporting by Shubham Kalia in Bengaluru; Editing by Clarence Fernandez)

10/10/2019 23:48

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