Hawkish Kashkari Comments Pour Cold Water on Markets
The dollar is advancing, yields are higher, and equity futures are in retreat as more overt hawkishness from a Fed official weighs on global risk sentiment. Markets tumbled yesterday morning when Minneapolis Fed President Neel Kashkari – doing his best to become the new Jim Bullard – suggested that further rate hikes remained a possibility. Speaking at a monetary policy forum in London, Kashkari said “the odds of us raising rates are quite low,” but “we could stay on hold for an indefinite period of time, and “I don’t think anyone has totally taken rate increases off the table”. Kashkari’s...