Fed’s Kashkari says cutting immigration will reduce growth

Andrew Harrer | Bloomberg | Getty Images

Neel Kashkari, president and chief executive officer of the Federal Reserve Bank of Minneapolis.

Reducing immigration to the United States, as President Donald Trump has proposed, will reduce economic growth, Minneapolis Federal Reserve Bank President Neel Kashkari said on Monday.

“Do we want economic growth, or not? That’s what it comes down to,” Kashkari said at the Rotary Club of Downtown Sioux Falls, South Dakota, responding to a question from a Rotary Club member. Sioux Falls, he said, has embraced immigration, and other towns would do well to do the same.