Federal Reserve's Kashkari states he does not support the last rate cut and has not made a decision regarding the December meeting

Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, stated that he does not support the Federal Reserve's last interest rate cut decision, but has not yet made a decision on what actions to take at the December policy meeting. "The signs from market feedback and data indicate that the underlying resilience of economic activity exceeds my expectations," Kashkari said, suggesting that the Federal Reserve should pause interest rate cuts at the October meeting. Kashkari noted that subsequent data released showed that the economic situation "remains largely unchanged." Regarding the upcoming interest rate decision on December 9-10, he said, "I can make a case for a rate cut based on the data trends, and I can also make a case for keeping rates unchanged; we will see." Kashkari is not participating in the interest rate decision voting this year, but he will be involved in the discussions of the Federal Open Market Committee (FOMC). (Bloomberg)