Fed's Kashkari says 50 bps rate cut was 'right decision' [Yahoo! Finance Canada]
KRAIG BIOCRAFT LABS INC (KBLB)
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Source: Yahoo! Finance Canada
(Reuters) - Federal Reserve Bank of Minneapolis President Neel Kashkari on Monday said he supported the U.S. central bank's recent interest rate cut, calling it the "right decision" in light of substantial progress on inflation and the risk of an increase in unemployment. "The balance of risks has shifted away from higher inflation and toward the risk of a further weakening of the labor market, warranting a lower federal funds rate," Kashkari said in an essay, referring to the bank-to-bank overnight lending rate that is the Fed's main policy lever. "Even after that cut, the overall stance of policy remains tight." Last week the Fed cut its target range for its policy rate by a half-of-a-percentage point, to 4.75%-5.00%, a bigger-than-usual move that caught many analysts by surprise. Kashkari is not among the Fed's 12 voting rate-setters this year, so his view on the recent decision was not previously known. He had until recently been among the more hawkish of Fed policymakers,
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KBLB
Sec Filings
- 11/19/24 - Form 424B3
- 11/13/24 - Form 10-Q
- 11/4/24 - Form SEC
- KBLB's page on the SEC website