Fed’s Kashkari: Feeling a little bit better about the US economy than he had a few months ago
Speaking in an audience Q&A, Federal Reserve Bank (Fed) of Minneapolis President Kashkari noted the following.
“Feeling a little bit better about the US economy than he had a few months ago.”
“There's a lot of consensus at fed that monetary policy is modestly accommodative.”
“Takes "comfort" from the fact the US yield curve is no longer inverted, a shape that has historically signaled a coming recession.”
“Business investment weak.”
“Consumer spending and the job market strong.
The US economic outlook is "somewhat mixed, but a little bit more optimistic than maybe it was a couple months ago.
"The fact that the yield curve is now uninverted gives me some indication that we have taken the brakes off the economy."
The early Asian trading seems to be unaffected by Kashkari’s comments, as the US dollar keeps its overnight consolidative mode intact around 98.30 after US President Trump’s comments on the US-China trade deal stalled the buck’s upside momentum.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
