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Minneapolis Federal Reserve Chairman Kashkari said Thursday that the Federal Reserve should cut interest rates further because the U.S. economy has not yet fully realized its potential. Asked if there would be a negative interest rate in the United States, he said the possibility could not be ruled out.
"I advocate a bigger rate cut because I see no evidence that the U.S. economy is running at full or overloaded levels. There is no reason to try to keep interest rates down growth, "Cashkary said at an event at Montana State University Billings about last week's policy meeting of the Federal Reserve.
At that meeting, Federal Reserve policy makers lowered the target range of the federal funds rate to 1.75% - 2.00%, but earlier this week, Cashkari said he believed interest rates should be cut by 0.5 percentage points.
Since the end of 2015, the Federal Reserve has been raising interest rates intermittently due to the strong economy, but in July, the Federal Reserve changed its approach as global economic growth slowed down, trade tensions in the United States and the impact of moderate inflation intensified.
Cashkari has no vote on monetary policy this year, so his gesture this year is not as impressive as that of another pigeon official, St. Louis Fed Brad. The latter voted against the decision to cut interest rates by 25 basis points at a monetary policy meeting earlier this month, in the hope that the Federal Reserve would cut interest rates by 50 basis points directly.

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