Fed's Kashkari is a voting member in 2020

Minneapolis Fed Pres. Neal Kashkari is speaking on a panel discussion and says:

  • Unlikely US will be immune from effects of coronavirus related slowdown
  • We look at China data was somewhat skeptical high
  • Virus case number revision has hurt confidence in data
  • He is assuming trade skirmishes won't get worse but not confident will get better
  • Says he is in a wait and see mode on trade war effects
  • Fed is on pause now and for a while.
  • He is comfortable where rates are right now
  • US rates today are a little bit below neutral
  • If he were to guess, the Fed will sit right here for 3 to 6 months and the next move would be a cut
  • If there were a positive shock, and interest rate hike would be called for (Kashkari is speaking from both perspectives although he leans more to the dovish side it seems).

Kashkari is known to be more of a dove. He is a voting member on the FOMC in 2020.