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Fed's Kashkari says does not yet know how much more to cut interest rates

Credit: REUTERS/Shannon Stapleton

The U.S. Federal Reserve should continue to cut interest rates in order to offset growing risks to the economy, Minneapolis Federal Reserve Bank President Neel Kashkari said on Monday.

Oct 7 (Reuters) - The U.S. Federal Reserve should continue to cut interest rates in order to offset growing risks to the economy, Minneapolis Federal Reserve Bank President Neel Kashkari said on Monday.

"My message is clear: we should be supporting the economy, not tapping the brakes on the economy so I want to look at the data over the next few months but so far I am happy that we're cutting interest rates," Kashkari said during an event in Prior Lake, Minnesota.

"How much more do we have to cut? I don’t know yet," he said, citing slowing global growth, weakening business investment and inflation that is below the central bank's 2% target as economic risk factors.

(Reporting by Lindsay Dunsmuir; Editing by Andrea Ricci)

((Lindsay.Dunsmuir@thomsonreuters.com; +1 202 898 8411;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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