Federal Reserve Bank of Minneapolis president Neel Kashkari said he expects interest rates to be lowered by smaller, quarter-point moves at each of the central bank's two remaining meetings this year.
“After 50 basis points, we’re still in a net tight position so I was comfortable taking a larger first step,” Mr Kashkari said on CNBC Monday. “As we go forward, I expect, on balance, we will probably take smaller steps unless the data changes materially.”
