Fed’s Kashkari: any surprise job market weakness could trigger rethink of rate-cut pace

(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari on Monday repeated he expects “modest” interest-rate cuts over the coming quarters, though a sharp weakening of labor markets could move him to advocate for faster rate cuts. “If the labor market weakens surprisingly, that would cause me to take a fresh look at my ‘dots,’” Kashkari said in a town hall at the Chippewa Falls Area Chamber of Commerce, using “dots” as short-hand for his view of the appropriate path ahead for interest rates. Currently, he said, he believes rates are putting the brakes on the economy.