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Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, who for years has been one of the fiercest opponents of cryptocurrencies, once calling them "worthless", "fraudulent" and "nonsense", recently said he would be open to cryptocurrencies. "I'm going to keep an open mind," Neel Kashkari said in an interview in New York on Tuesday. Still, Kashkari questioned the significance of cryptocurrencies in the conversation. The industry has been around for a long time, he said, but has not ...
In an interview with the media on Saturday, Minneapolis Fed President Neil Kashkari said that this matter (rate cuts) is really not dependent on short-term plans between Congress and the new administration - it's really about productivity and economic growth. If that growth can be sustained and our economy becomes more structurally efficient, then that tells me that we may not cut rates as much.
Kashkari, president of the Federal Reserve Bank of Minneapolis, reiterated his preference for a slower pace of interest rate cuts in the coming quarters. He backed the Fed's larger-than-usual rate cut last month but said he expected smaller cuts at future meetings. "Right now I'm forecasting more modest rate cuts in the coming quarters to be near neutral, but that will depend on the data," Kashkari said, referring to interest rates that neither stimulate nor constrain the economy. He said faster...
A new research report from the Federal Reserve Bank of Minneapolis has raised concerns about the impact of bitcoin on government fiscal policy, arguing that it may need to be taxed or banned by law to help governments manage deficits. The paper argues that bitcoin complicates efforts to maintain permanent government deficits, especially in an economy dependent on nominal debt. It points out that bitcoin creates a so-called "balanced budget trap" that forces governments to balance their budgets.
The 2026 FOMC voting committee and Minneapolis Federal Reserve President Kashkari will be interviewed by Bloomberg Television in ten minutes.
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