Fed's Kashkari: Sluggish growth likely for foreseeable future
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Minneapolis Fed President Neel Kashkari speaks during an interview at Reuters in New York February 17, 2016. REUTERS/Brendan McDermid
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(Reuters) - Minneapolis Fed President Neel Kashkari said on Thursday that sluggish growth in the U.S. economy will likely remain for the foreseeable future.
"We're not forecasting a recession, but we're also not forecasting a booming economy," Kashkari said at a town hall meeting in Montana streamed live on the bank's website.
He said it would likely remain "sluggish."
Kashkari is not a voting member on the Fed's rate-setting committee until next year, but takes part in deliberations.
He has yet to comment on when he would prefer to see a rate increase, but has said he is more worried about raising rates too quickly than too slowly.
Most Fed policymakers are backing a rate hike by year's end should the labor market and inflation continue to firm.
(Reporting by Lindsay Dunsmuir in Washington; Editing by Sandra Maler)
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