Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

Fed’s 50 bps rate cut was “right decision” – Kashkari

admin by admin
September 23, 2024
in Economy
0
Fed’s 50 bps rate cut was “right decision” – Kashkari
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter

Investing.com – The Federal Reserve’s move to cut interest rates by a half-of-a-percentage point last week was the “right decision”, according to Federal Reserve Bank of Minneapolis President Neel Kashkari on Monday.

The US central bank cut its target range for its policy rate by 50 basis points to 4.75%-5.00% last week, after leaving borrowing costs at a more than two-decade high for over a year. 

This was the first reduction since March 2020, and the decision wasn’t unanimous as Fed Governor Michelle Bowman preferred to lower rates by just 25 basis points.

“The balance of risks has shifted away from higher inflation and toward the risk of a further weakening of the labor market, warranting a lower federal funds rate,” Kashkari said in an essay, referring to the bank-to-bank overnight lending rate that is the Fed’s main policy lever. “Even after that cut, the overall stance of policy remains tight.”

Kashkari is not among the Fed’s 12 voting rate-setters this year, but until recently had been seen as being among the more hawkish of Fed policymakers.

In August he had said he was open to a rate cut, but indicated his preference for a smaller rate cut unless there was a quick deterioration in the labor market.

There are more Fed speakers due this week, including Atlanta Fed President Raphael Bostic on Monday, ahead of Fed Chair Jerome Powell on Thursday at the 10th annual US Treasury Market Conference.

 

This post appeared first on investing.com

Previous Post

Fed’s Bostic: Economy returning to normal faster than expected so policy should as well

Next Post

White House to spell out plan to safeguard US auto sector, avoid second ‘China shock’

admin

admin

Next Post
White House to spell out plan to safeguard US auto sector, avoid second ‘China shock’

White House to spell out plan to safeguard US auto sector, avoid second ‘China shock’

Trending News

Interview: Diversifying into commodities mitigates risks amid global uncertainties, says Saxo Bank’s Ole Hansen

Interview: Diversifying into commodities mitigates risks amid global uncertainties, says Saxo Bank’s Ole Hansen

February 9, 2025
Return to office costs employees $561 per month: is the price worth it?

Return to office costs employees $561 per month: is the price worth it?

November 20, 2024
Ripple Buys Rail for $200M to Boost Its Stablecoin Payments Power

Ripple Buys Rail for $200M to Boost Its Stablecoin Payments Power

August 7, 2025
Subscribe to Insightful Word


    Recent News

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    August 28, 2025
    SentinelOne stock price forecast ahead of earnings: buy or sell?

    SentinelOne stock price forecast ahead of earnings: buy or sell?

    August 28, 2025
    Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    August 28, 2025
    Urban Outfitters stock slides 4% despite strong quarter on cautious outlook

    Urban Outfitters stock slides 4% despite strong quarter on cautious outlook

    August 28, 2025

    Recent News

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    August 28, 2025
    SentinelOne stock price forecast ahead of earnings: buy or sell?

    SentinelOne stock price forecast ahead of earnings: buy or sell?

    August 28, 2025

    Latest News

    • Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in
    • SentinelOne stock price forecast ahead of earnings: buy or sell?
    • Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.