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Fed's Kashkari: Most important data today is the 4% unemployment rate

In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari said that he would move towards supporting further rate cuts if they see good inflation data and the labor market stays strong, as reported by Reuters.

Key takeaways

"10-year yield rise even as fed cut rates looks mostly about real rates, with uncertainty about where neutral rate is."

"Could also be from fiscal deficits."

"Fed will get inflation back down."

"Most important data today is the 4% unemployment rate."

"It's still a good labor market."

"Economy is strong, businesses optimistic."

"We are in a good place to sit here until we get more information on administration's policies."

"Inflation is coming down."

"We have a lot of confidence that housing inflation will help bring inflation down."

​​​​​​​GBP outperforms modestly – Scotiabank

The Pound Sterling (GBP) weakened following yesterday’s BoE policy decision, with the initial reaction driven by a dovish tilt to the policy vote split (hawkish MPC member Mann and one other voted for a 50bps cut), Scotiabank's Chief FX Strategist Shaun Osborne notes.
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