Minneapolis Federal Reserve Bank President Neil Kashkari said on Wednesday that the possibility of the Federal Reserve (the US central bank) moving to cut interest rates next year is highly unlikely.
Some financial markets indicate that they expect us to cut interest rates next year, Kashkari told a forum on the sidelines of a financial regulator conference in New York.
I don't want to say that this is impossible, but it seems like a very unlikely scenario, he continued, quoting Reuters.
He added: The most likely scenario is that we will continue to increase interest rates and then wait until we have confidence that inflation will decline at a significant pace back towards the target level of 2%.
