Minneapolis Fed president calls for more cuts

The Federal Reserve needs to make further rate cuts to boost economic activity, Minneapolis Fed president Neel Kashkari has said.

The Fed president said in remarks on October 7 that he was “happy” the central bank lowered rates in its last two meetings and that further cuts are still necessary. But he added that he is unsure how much more accommodation is required.

Kashkari, a long-time dove, argued that while unemployment is at historically low levels, many people “gave up” looking for jobs