Fed President, Neel Kashkari: Sees Fed rates roughly around neutral
|Minneapolis Fed President, Neel Kashkari (dove but a non-voter in 2019), was speaking at an event in New York:
Key comments:
Thinks US economy is going to grow but faces risks.
Sees Fed rates roughly around neutral.
Ought to give more support if downside risks increasedI'm not sure how much further we have to go.
Not ready to completely abandon the Phillips curve.
repo market strain was a plumbing issue.
FX implications:
The US dollar is being driven by external forces at the moment and non-voting member Fed comments are unlikely to rock the apple cart. However, as trade talks and Brexit risks dim, there will be a switch-up in focus towards the Fed interest rate decision later this month which will impact the value of the US Dollar, one way or another.
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