Fed's Kashkari: Trump's Threat Is Actually a Monetary Policy Issue, No Need to Cut Rates in January

Odaily Fed's Kashkari stated that the actions taken by the Trump administration against the Federal Reserve over the past year are "actually a monetary policy issue." Previously, the Department of Justice led a criminal investigation into Fed Chair Powell. In an interview, Kashkari said, "The escalation over the past year is actually a matter of monetary policy. I think the Chair explained it very accurately." Kashkari noted that this moment is an opportunity "to explain to our constituents and the American people why the Fed's independence is so crucial to the health and vitality of the U.S. economy." Kashkari also said, "I don't think there's a need to cut rates in January," but added that there might be some room for rate cuts later this year, though he said it's "too early" to tell now. (Jin10)