Key points from Fed’s Kashkari:

  • Inflation was not caused by the labor market.
  • Most crypto transactions are linked to illegal activities.
  • Immigration policies will impact labor market data.
  • Tariffs will likely lead to a one-time price increase, not ongoing inflation.
  • We want to prevent a recession.
  • We noticed signs of labor market weakness, prompting a 50 basis point cut.
  • Future rate decisions will consider all available data.
  • Quick labor market decline could lead to faster rate cuts.
  • I anticipate modest rate cuts in the coming quarters.

Today at 5:05 PM ET, Kansas City Fed President Schmid will discuss the economic outlook and monetary policy at the Chartered Financial Analysts Society in Kansas City. Audience questions are expected.

At 6:40 PM ET, San Francisco Fed President Daly will join a moderated discussion at a Wall Street Journal event in California.