Sluggish growth likely for foreseeable future - Fed's Kashkari

(Reuters) - Minneapolis Fed President Neel Kashkari said on Thursday that sluggish growth in the U.S. economy will likely remain for the foreseeable future. "We're not forecasting a recession, but we're also not forecasting a booming economy," Kashkari said at a town hall meeting in Montana streamed live on the bank's website. He said it would likely remain "sluggish." Kashkari is not a voting member on the Fed's rate-setting committee until next year, but takes part in deliberations. He has yet to comment on when he would prefer to see a rate increase, but has said he is more worried about raising rates too quickly than too slowly. Most Fed policymakers are backing a rate hike by year's end should the labour market and inflation continue to firm. (Reporting by Lindsay Dunsmuir in Washington; Editing by Sandra Maler)