Minneapolis Fed Chairman: Bank of America's prediction of a rate cut in December this year is reasonable

In an interview, Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, stated that U.S. banks predict that the Federal Reserve will cut interest rates once this year, but not until December. This prediction is reasonable and the median forecast is for one rate cut this year. It actually depends on data. "We are now in a very favorable position to slowly gather more inflation data, economic data and labor market data before making any decisions."