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The Fed: Fed’s Kashkari sees no urgency to raise interest rates

Bloomberg

Minneapolis Fed President Neel Kashkari

The problems facing the economy cannot be solved by monetary policy so there is no pressing need for action from the central bank, said Minneapolis Fed President Neel Kashkari on Monday.

“There doesn’t appear to be a huge urgency to do anything,” Kashkari said in an interview on CNBC.

The Minneapolis Fed president, who is not a voting member of the Fed’s policy committee, this year, said he wanted to see “more movement” in core inflation, which he said was “stuck” at a 1.6% annual rate.

Kashkari said he was puzzled by some calls for higher rates.

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