Fed’s Kashkari sees rates at 1.75-2.00% at year-end

Kashkari published an essay with his thoughts on monetary policy. The thrust is an apology and explanation for why he was wrong about inflation remaining low.

  • The good news is that long-term inflation expectations seem well anchored
  • My estimate of the nominal neutral rate remains at 2.00%

Kashkari is a dove, but even his forecast would mean six more rate hikes this year.


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