Fed’s Kashkari: We must do our best to achieve our dual mandate

  • Minneapolis Fed Pres. Kashkari concluding his remarks


Some final remarks from Minneapolis Fed Pres. Kashkari:

  • right now, by most measures, the labor market is very strong
  • if the labor market softens a bit to bring down inflation
  • a recession would hit low-income workers the most
  • but if we do not control inflation, low-income workers are also those who suffer the most
  • we must do our best to achieve our dual mandate
  • Hopefully we’ll get some help along the way so the Fed doesn’t have to do all the work on decomposing inflation
  • I am still optimistic that labor market participation will increase further, but the priority is to reduce inflation
  • I expect house price growth to at least start to subside
  • I don’t really buy into the “big resignation” theory.
  • Many people change jobs

Kashkari is an alternate member of the FOMC this year. He will be a full voting member next year and tends to be one of the Fed’s more dovish chairs.

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