Fed Rate Cut Doubt Growing; UK Income Tax Hike Plan Ditched By Reeves

Minneapolis Fed 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. Kashkari joins a slew of Fed officials who have in recent days expressed skepticism over the need for another cut in December, or outright opposed one.