Kashkari on CNBC:

  • Not sure how many more cuts would be needed to get to neutral
  • It's possible that cutting short term rates will not translate into lower long-term rates
  • People are betting on the institutions of the country to maintain Fed independence
  • Important underlying components of inflation including housing and non-housing services do seem to be coming down
  • Powell achieved a tremendous consensus, which is a credit to him
  • Politics did not enter the Fed's conversation this week

This is fairly dovish and should add some confidence that two more cuts are coming this year.

Source: Investing Live