Fed's Kashkari is speaking and says:
- Fed is focused on underlying demand in the economy to get inflation down.
- Americans have been spending more than at one have expected.
- Housing is an area very focused on.
- The big question now is how restrictive is the current Fed policy
- We probably need to sit here for a while longer to figure out where inflation is headed.
- Fed's balance sheet runoff is going well
- Fed is committed to 2% inflation goal
- With higher US government debt, it might take higher borrowing costs in the near term to achieve 2% inflation.
- His view is that Bitcoin has little practical use. Not an investment vehicle or a currency
- Reiterates skepticism for the value of central-bank digital currency
Kashkari is not a voting member in 2024. He has been more hawkish of late.
