Kashkari said that the current stance of monetary policy remains restrictive of growth, although by how much is unclear.

Minneapolis Federal Reserve President Neel Kashkari said it appears likely that “further modest reductions” in the central bank’s benchmark interest rate will be appropriate in coming quarters.

U.S. Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday more rate cuts likely lie ahead for the central bank as the 2% inflation target looms into sight. "As of right now, it appears likely that further modest reductions in our policy rate will be appropriate in the coming quarters to achieve both sides of our mandate,