Fed's Kashkari: A rate hike could be called for if there is a positive shock

If there was a positive shock to the US economy, an interest rate hike could be called for, argued Minneapolis Fed President Neel Kashkari on Wednesday.

"If I were to guess, the Fed will sit here for the next 3-6 months, and next move would be a cut," Kashkari further noted and added that he is sceptical on the role of monetary policy as it relates to climate change.

USD reaction

The US Dollar Index, which tracks the greenback's value against a basket of six major currencies, ignored these comments and was last seen adding 0.22% on the day at 99.66.