Fed/Kashkari: Interest Rate Cuts in December Will Be Determined by Data

Forex - Minneapolis Fed President Neel Kashkari stated that upcoming economic data will determine whether the Fed will lower interest rates again in December. Speaking on CBS's 'Face the Nation', Kashkari said, "The expectation is that we will make another rate cut in December. We need to see what the data actually looks like before coming to any conclusions." He added, "This will happen in six weeks. However, I certainly believe that another rate cut is possible." Kashkari, who is not a voting member of this year's rate-setting committee, the FOMC, responded to the question of how the Fed would respond to a contentious Trump administration by stating that legal safeguards ensure the independence of the central bank.