Neel Kashkari
Role in each timeline
- The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
Minneapolis Fed president who opposed the April easing bias and expects further rate increases, while remaining open on their timing.
Neel Kashkari across every timeline
Every dated entry that names Neel Kashkari, from all 1 timeline, newest first.
- Kashkari expects further rate increases but is open on October timing Response
Minneapolis Fed President Neel Kashkari said he expected further rate increases but had no strong view on whether the next increase should occur at the end of October. His September projections included one additional quarter-point increase in 2026 and another in 2027.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Fifth straight hold; three regional presidents dissent in favour of a rate increase Announcement
The FOMC voted 9 to 3 to keep the range at 3.5 to 3.75 percent, with Hammack, Kashkari and Logan preferring a quarter-point increase, the first dissents for a hike since 2019 and a sign the debate under Warsh had flipped from when to cut to whether to tighten. Inflation remained elevated relative to target and core PCE was running near 3.3 percent.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Four dissents at Powell's last full meeting as chair: one for a cut, three against the easing bias Announcement
The FOMC held for a third meeting, describing inflation as elevated in part because of global energy prices. Miran wanted a cut, while Beth Hammack, Neel Kashkari and Lorie Logan supported holding but objected to the statement's easing bias, the widest split under Powell. The Senate Banking Committee had advanced Warsh's nomination on a party-line vote the same day.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings