Minneapolis Federal Reserve President Neel Kashkari says inflation is heading in the right direction. But he says it’s too soon to say if the Fed will continue on its rate cutting cycle. He also talks about housing, the labor market, and uncertainty about what policies President-elect Donald Trump will enact. Kashkari speaks on “Bloomberg Surveillance.”
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How is it possible that a FED president doesn’t know what inflation is?
Also, he takes no responsibility for the massive monetary expansion that Milton Friedman would tell you is the only cause of inflation. Massive fiscal stimulus also helped, but the supply side comments are anecdotal and coincidental to the real cause of inflation.
Even more suspicious, he said to be surprised at how prices fell. This seems to confirm he doesn’t know what inflation is, as the money supply anchor together with the fastest increase in rates, established by the FED, gave inflation nowhere to go but down, quick.
How is it possible they did the right thing with apparently no understanding of why it would work? Either he is ignorant or they are spinning a story to blame others for inflation.
At the least the market knows better…
Didn’t hear this much before the election.
End the FED !!! Kashkari has soo much data that it’s stuck in his big head!
I already know kashkari will be hawkish before I even see this.