Federal Reserve's Kashkari: Does not support last month's rate cut, taking a wait-and-see approach to the December decision.

PANews reported on November 14th that Minneapolis Federal Reserve President Neel Kashkari stated he does not support the Fed's previous rate cut decision, but remains cautiously optimistic about the best course of action at the December meeting. He said on Thursday, "From the scattered evidence and data we have, the fundamental resilience of economic activity is stronger than I expected." He believes this suggests the Fed should pause rate cuts at its October meeting. Since then, available data indicates the economic situation has "remained largely unchanged." Regarding the upcoming December rate decision, he said, "I can offer reasons for a rate cut based on the data, or I can offer reasons for keeping it unchanged; we'll have to wait and see." Kashkari stated after the September meeting that he expected two more rate cuts in 2025. He said on Thursday that at that time he believed the economy was experiencing a more pronounced slowdown. He said, "There have been many reports of low-income borrowers in distress, so it looks like there are indeed some vulnerable areas in the labor market. But many companies are performing well, and many companies are optimistic about 2026."