Fed policy is 'modestly restrictive,' Kashkari says
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FILE PHOTO: Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York City, New York, U.S., May 22, 2023. REUTERS/Mike Segar/File Photo
(Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari said he feels U.S. monetary policy is currently "modestly restrictive," with short-term borrowing costs continuing to slow inflation and the economy, but not by a lot.
"The U.S. economy is in a good place," Kashkari said at a Yahoo! Finance event.
"In my judgment we are still at a modestly contractionary stance, but ultimately the economy will guide us, in terms of how far we are needing to go" in cutting interest rates further.
(Reporting by Ann Saphir; Editing by Chris Reese)
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