US Fed's Kashkari: rates hikes are too aggressive

According to an interview with US Federal Reserve Bank of Minneapolis President Neel Kashkari, a high-powered dove within the US Federal Reserve system, the US' current pace of interest rate hikes is too aggressive and could lead to negative knock-on effects.

Key quotes

"It could be a spark in emerging markets like we're seeing in Turkey … that could potentially trigger a crisis of confidence, and could spill over globally into the U.S.

It could be something coming from the trade battles that are being taken right now.

It also could be done by us -- it could be done by the Fed raising interest rates -- when the economy can't sustain it

I've also been saying that we're raising interest rates too aggressively. We might keep raising interest rates, and the economy can't take it, and we put the country into recession."