Minneapolis Fed President Neel Kashkari, a member of the central bank’s rate-setting monetary policy committee, is open to pausing interest rates at the next policy meeting in June. He told the Wall Street Journal on May 21 that members of the Federal Open Market Committee (FOMC) need more time to assess the results of previous rate increases…
Fed’s Kashkari Open to Holding Rates Steady at Next Policy Meeting in June
May 22, 2023
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Recent Banking Turmoil Brings America Closer to Recession: Fed’s Kashkari
The latest turmoil in the banking sector could bring the United States closer to a recession, Minneapolis Fed President Neel Kashkari has warned. Speaking on CBS’s “Face the Nation” on March 26, Kashkari was asked whether the collapse of Silicon Valley Bank (SVB) and regional lender Signature Bank, as well as the recent rescue takeover of Credit Suisse…
Fed’s Austan Goolsbee Says US Economy Experiencing ‘Strange and Unprecedented Moment’
The U.S. economy is going through a “strange and unprecedented moment” on the other side of the coronavirus pandemic, according to the new Federal Reserve Bank of Chicago president, Austan Goolsbee. Goolsbee, who served on the Council of Economic Advisors in the Obama administration, told an audience at the Ivy Tech Community College in Goshen,…
Fed’s Kashkari Says His Biggest Fear Is Inflation Will Be More Persistent
Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday his biggest fear is that the U.S. central bank misreads the extent and persistence of price pressures and will need to deliver even more aggressive rate hikes to control inflation. Kashkari is already the most hawkish of all the central bank’s 19 policymakers and expects…
Fed Must Get Inflation Down Urgently, Kashkari Says
Minneapolis Federal Reserve Bank President Neel Kashkari on Thursday said the U.S. central bank needs to get “very very” high inflation down as soon as possible, even at the cost of possibly triggering a recession. “We need to get inflation down urgently,” Kashkari said at an event at the YPO Gold Twin Cities. “We need…
US Should Be Ready for ‘Higher for Longer’ Inflation, Interest Rates: Fed Officials
The next Federal Open Market Committee (FOMC) policy meeting is more than a month away, but U.S. central bank officials are providing insights into the Federal Reserve’s plans, inflation, and the broader economy. The message from multiple officials on Wednesday was that while a recession is a risk, slashing inflation to its pre-pandemic level…
Fed’s Neel Kashkari Says Inflation Might Still Be Transitory
The next Federal Open Market Committee (FOMC) policy meeting is more than a month away, but U.S. central bank officials are providing insights into the Federal Reserve’s plans, inflation, and the broader economy. The message from multiple officials on Wednesday was that while a recession is a risk, slashing inflation to its pre-pandemic level…
China’s Lockdowns Could Drive More US Policy Action, Says Fed’s Kashkari
April 21, 2022
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If lockdowns in China aimed at containing COVID-19 cause further disruptions to global supply chains, the Federal Reserve will need to take even more aggressive action to bring down “much too high” inflation, Minneapolis Fed President Neel Kashkari said on Tuesday. Speaking at an event at Luther College in Decorah, Iowa, Kashkari said in the…
Fed’s Kashkari: ‘Let’s Not Overdo It’ on Fed Rate Hikes
Minneapolis Federal Reserve Bank President Neel Kashkari said Wednesday it’s ‘appropriate’ for the U.S. central bank to take steps to normalize monetary policy to deal with high inflation, but warned against raising rates too fast or too far. “My caution to my colleagues, and to myself, is, ‘let’s not overdo it,’” Kashkari said at a…
Fed’s Kashkari: Keeping an ‘Open Mind’ on Timing of Rate Hikes
Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday said he expects more clarity on the economic outlook by the time the Fed ends its bond-buying program in mid-2022, and is keeping an “open mind” on the timing of any rate hikes to follow. “I have not made any decisions about where my stance is…
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