Fed's Kashkari says 'very possible' rate hikes doing 'real harm' to economy

Minneapolis Fed President Neel Kashkari said Tuesday it is very possible that the central bank's four interest-rate hikes since late 2015 could now be doing "real harm" to the economy. "It is very possible that our rate hikes over the past 18 months are leading to slower job growth, leaving more people on the sidelines, leading to lower wage growth, leading to lower inflation," Kashkari said in remarks at the Carlson School of Management at the University of Minnesota. Kashkari, who is a voting member of the Fed's policy committee, was the lone dissenter for each of the Fed's two rate hikes......(read more)

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