Federal Reserve's Kashkari: Large-scale expulsions of illegal immigrants will lead to chaos for some businesses; unclear impact on inflation
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Minneapolis Federal Reserve President Neel Kashkari stated that the large-scale expulsion of illegal immigrants in the U.S. could disrupt some businesses, and the impact on inflation remains unclear. He pointed out that losing employees could lead to chaos for companies. The Federal Reserve lowered the benchmark interest rate by 25 basis points last week and is expected to cut rates again at the December meeting. Kashkari emphasized that the inflation rate needs to drop to the 2% target, with the latest data showing that the inflation rate in September was 2.4%
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