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11/4, 2:44 PM (Source: TeleTrader)
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Kashkari: Fed should not raise rates too early

Federal Reserve Bank of Minneapolis President Neel Kashkari told CNBC on Monday that the US central bank should not raise interest rates too early.

He also noted that the economy is showing signs of slowing down in the entire world, including Europe and China. Kashkari pointed out that the United States is not immune to the global economic decline, while adding that monetary policy was too tight during the period of economic recovery.

Last week, the Federal Open Market Committee lowered interest rates by 25 basis points to the 1.50%-1.75% range, while its chairman Jerome Powell stated that the central bank will not currently consider raising rates further.

Breaking the News / MS