Minneapolis Fed President Neel Kashkari recently crossed the wires announcing that he called for a 50 basis points interest rate cut at this week’s Fed meeting. “Aggressive action needed to re-anchor inflation expectations,” Kashkari argued and added: “Fed should commit to not raising rates until inflation is sustainably at 2%.”
The US Dollar Index, which came under a modest pressure following the disappointing PMI data releases earlier in the session, struggles to recover and was last seen down 0.12% on the day at 96.50.
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