Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, crossed the wires in the last minutes, arguing that the Federal Reserve’s forward guidance that rates would go up was hawkish and had a contractionary effect on the economy. “There is more slack in the labor market, it’s not time to tap the brakes on the economy,” Kashkari added. “The monetary policy is not the right tool to respond to trade war but it’s the only tool that we have.” The US Dollar Index largely ignored these comments and was last down 0.3% on the day at 98.40. Below are some additional quotes, per Reuters. “We can’t model the shock trade war will have on psychology and how its going to ripple through the economy.” “It’s worth analyzing the control of the yield curve as a potential monetary policy tool, similar to Japan.” “Wage growth of 3.5% to 4% would suggest maximum employment, but wage growth has been falling and the labor market is showing signs of softening.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next Germany: Government to cut 2020 GDP forecast to 1.1% from 1.5% in April FX Street 4 years Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, crossed the wires in the last minutes, arguing that the Federal Reserve's forward guidance that rates would go up was hawkish and had a contractionary effect on the economy. "There is more slack in the labor market, it's not time to tap the brakes on the economy," Kashkari added. "The monetary policy is not the right tool to respond to trade war but it's the only tool that we have." The US Dollar Index largely ignored these comments and was last down 0.3% on the day at 98.40. Below are… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
