Minneapolis Fed president Nee Kashkari. Not a voting member in 2021
- It is true US unemployment rate is around 9.5%
- I hope we can make a lot of progress this year on jobs, will depend on vaccines, virus
- would be great to get back to full employment by 2023
- we need to get back to where we were before pandemic and need to go beyond that
- when labor market gets tight enough that wage growth picks up, get 2% inflation, that's full employment
- not concerned about inflation now
- we have a very powerful tools if inflation starts to rise in a sustainable way
- if we were seeing a real uptick in real yields that would give him a pause. We are not seeing much movement in real yields
- most moves are in inflation expectations
- recent movements in treasury market suggest that feds framework is delivering what we wanted
- any time you try to design a targeted assistance, you end up missing people who need it
- applauds Congress for wanting to do more to help out of work Americans
- downside is you could give money to people who don't need it, but if they save it it's not inflationary
- this crisis has been disproportionately targeted to low income workers
- not concerned about the "wartime" deficit spending that we need to do right now
- many people hit most of my pandemic are not able to get economic or health resources they need
- on Minnesota ice fishing, he has done it once and had the typical Minnesota experience, he drank beer and did not catch anything. ; )
Kashkari is speaking in a Washington Post online interview
CLICK HERE to watch the interview