In a new essay, Minneapolis Fed President Neil Qashqari says he sees two more rate cuts coming from the central bank this year. Steve Leeman joins uh us now with Mr. . Qashqari.Hey, Steve. And hey, Neil. Good morning.Thank you, Joe. Let's bring in Mr. . Kashkari, president of the Minneapolis Fed.Neil, let's talk about your um essay this morning, which is fascinating. And I just want to ask you uh first about one of the things that you say in your piece, which is that you're concerned that there could be som ...

Minneapolis Federal Reserve President Neel Kashkari said Friday that he expects President Donald Trump's tariffs to expert minimum long-term pressure on inflation, leaving room for multiple interest rate reductions ahead.In a CNBC interview, the central banker detailed reasons why he would like the Fed to lower its benchmark borrowing level at each of the remaining two meetings this year in addition to the one the Federal Open Market Committee approved Wednesday. The three total cuts is one more than he had ...

So what did you make of the quarterpoint cut and also some of the commentary from J Pal uh just talking about the dispersion the summary of economic projections and also our Steve Leeman asked a great question are we on a path for cuts and JP pal came back and said well we're more data dependent something he obviously has said in previous meetings well the meeting turned out to be what most of us expected to have happen the 25 basis point cut I think what was would have been more problematic was we didn't g ...

By Davide Barbuscia and Suzanne McGee NEW YORK (Reuters) -Investors look set to face a volatile few months ahead after the Federal Reserve resumed interest rate cuts and opened the door to further easing but tempered its message with warnings of sticky inflation, sowing doubt over the pace of future policy adjustments. Some investors are now less certain that a rapid shift to lower borrowing costs will materialize, potentially dampening optimism that stocks and bonds would get a strong lift from easier p ...

Claire, >> Claire Jones, Financial Times. Um, given the range of views expressed prior to the meeting, I think there was a lot less descent today than a lot of people expected. It'd be good to know just what you think the drivers were of coming to that very strong consensus in the meeting and also on the flip side to just explain why the dot pot plots are really so scattered between you know someone even expecting rates to end up higher by the end of the year to to five cuts.I mean what were the kind of ran ...

Mr. . Chairman, uh Neil Irwin with Axios. Um there's been some debate lately on whether AI is already starting to affect the labor market in terms of lower labor demand, uh higher productivity by contrast.Uh do you do you buy that. Uh and if that is true, does that have implications for for the monetary policy setting. So there's there's great uncertainty around that.I think my view which is also a bit of a guess but widely shared I think is that you are seeing some effects but it's not the main not the mai ...

Howard Schneider with Reuters. So, um, as you mentioned a minute ago, some margins of the job market would suggest that the slides already happening. Black unemployment rate in August was above 7%.Uh, declining work week, difficulty among co college graduates finding work, high rising youth unemployment. Why do you think a quarter percentage point now is going to arrest that. Well, I I hadn't say that I thought a quarter point would make a huge difference to the economy, but you got to look at the whole pat ...

Schelsey with ABC News. The latest inflation report shows that prices are still going up across key categories for many households including groceries. What will the Fed do if prices pick up more.So our our expectation and you can see this consistently through the year has been that inflation will move up this year but that the the effect basically because of the effects on goods prices from tariffs but that uh those will turn out to be a one-time price increase as opposed to creating an inflationary proces ...

Chair Powell, do economic conditions and the balance of risks no longer warrant a restrictive policy setting. So I don't think we can say we can say that. What we can say is this, that over the course of this year, we've kept our policy at policy at a restrictive level and people have different views, but a clearly restrictive level, I would say so.And we were able to do that over the course of this year because the labour market was in very solid condition with strong job creation and all those things. I t ...

Chair Pal, do economic conditions and the balance of risks no longer warrant a restrictive policy setting. >> So I don't I don't think we can say we can say that. What we can say is this that over the course of this year we've kept our poly policy at a restrictive level and and people have different views but a clearly restrictive level I would say.So and we were able to do that uh over the course of this year because the labor market was in very solid condition with strong job creation and all those things ...