Minneapolis Federal Reserve President Neel Kashkari believes the central bank is close to stopping interest rate cuts. The key question is whether to focus on the slowing labor market or high inflation. Kashkari, a voting member on the Federal Open Market Committee, is concerned about inflation and tariff impacts.

Kashkari’s voice holds weight as the Fed decides its next move. Concerns about inflation and the labor market drive the decision-making process. With the unemployment rate rising and inflation at 2.8%, the Fed is nearing the end of its cutting cycle. Kashkari supports a cautious approach to monetary policy.

Kashkari expressed support for Fed Chair Jerome Powell, praising his leadership. Powell’s term ends in May, and Trump plans to announce a successor in January. Kashkari believes Powell has done an excellent job and would like to see him remain as a colleague. The Fed faces challenges balancing inflation and economic growth.

Read more at CNBC: Minneapolis Fed’s Kashkari indicates interest rates don’t need to be cut much more