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Neel Kashkari,  President of the Federal Reserve Bank of Minneapolis, crossed the wires in the last minutes arguing that it would be appropriate for the Fed to use quantitative easing (QE) if the economy were to go into a recession. Kashkari further added that he does not yet know by how much the Fed should cut interest rates.

The US Dollar Index, which tracks the USD’s performance against a basket of six major currencies, largely ignored these comments and was last down 0.05% on the day at 98.80.