Fed Doubts Grow Over December Rate Cut With Kashkari on Fence

Federal Reserve Bank of Minneapolis President Neel Kashkari said he didn’t support the US central bank’s last interest-rate cut, though he’s still undecided on the best course of action for its December policy meeting.

“The anecdotal evidence and the data we got just implied to me underlying resilience in economic activity, more than I had expected,” Kashkari said Thursday in an interview with Bloomberg News. That, he said, argued for a pause to rate cuts at the Fed’s October meeting.

Since then, available data have suggested “more of the same” for the economy, Kashkari said. For the upcoming Dec. 9-10 ...