Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday that he thinks that despite the recent cuts, interest rates are not yet in a "neutral environment," while also stating that the economy is doing well and has shown itself to be resilient.
"We've cut interest rates by 75 basis points, we tried to bring it down back close to the neutral environment... we're not in neutral yet, in my judgment we're still in a modestly contractional stance, " Kashkari explained.
"Ultimately the economy will guide us in terms of how far we end up needing to go," he concluded, stressing that the central bank remains confident it can achieve its goal of bringing inflation down to its 2% target.
