January 9, 2018 / 4:11 PM / 6 months ago

Fed's Kashkari: Keep interest rates low to boost wages, inflation

WASHINGTON, Jan 9 (Reuters) - The U.S. Federal Reserve should keep interest rates low so that wage gains accelerate and inflation rises, Minneapolis Federal Reserve President Neel Kashkari said on Tuesday.

“Inflation has been low, wage growth has been low, so I’m advocating for lower interest rates to get wages up and to get inflation back to our 2 percent target,” Kashkari said at an event in Minnesota.

Kashkari does not have a vote on the Fed’s rate-setting committee this year, but did have in 2017 during which he dissented against the central bank’s decision to raise borrowing costs three times.

Kashkari has repeatedly said he wants to see inflation rise before increasing interest rates any further.

Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama

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