Fed's Kashkari: Wanted stronger commitment to zero interest rates

Under the Federal Reserve's new forward guidance, there is still a possibility that rates could be raised before achieving goals, Minneapolis Federal Reserve President Neel Kashkari said on Friday. Kashkari further added that he wared a stronger commitment to zero interest rates.

Additional takeaways

"Wanted Fed to vow to wait on rate hikes until core inflation is at 2% for roughly a year."

"Sustained core inflation at 2% would demonstrate the economy really is at full employment."

"It's hard to assess in real-time if the economy is at full employment, inflation set to rise."

Market reaction

These comments don't seem to be having a significant impact on the USD's performance against its major rivals. As of writing, the US Dollar Index was virtually unchanged on the day at 92.91.