August 16, 2019 / 5:33 PM / 4 months ago

Fed's Kashkari says rate cut likely needed to help U.S. economy

WASHINGTON, Aug 16 (Reuters) - The Federal Reserve likely needs to cut interest rates and take aggressive measures to counter an economic slowdown, Minneapolis Federal Reserve Bank President Neel Kashkari said on Friday.

“We probably need to go ahead and pull back on interest rates to provide more support for the economy,” Kashkari said in an interview on U.S. broadcaster CNN. “It is much better to be early and aggressive in responding to a slowdown than it is to be late to it.” (Reporting by Jason Lange, Timothy Ahmann and Howard Schneider Editing by Chizu Nomiyama)

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