Minneapolis Fed Pres. Kashkari:
- Is cautious about how restrictive monetary policy is
- The business community does not think that financial conditions are tight.
- I am in a wait and see mode
- Can't rule out raising rates
- We saw gains in the supply side of the economy which drove the declines inflation last year. I just don't know this year if we will see more.
- Is there argument that the neutral rate has gone up.
- Not sure where the neutral rate is now. That is why in a wait and see mode.
- The default is we will sit and wait for an extended period of time
- The bar is high for another rate hike but can't rule it out
Chicago Fed Pres. Goolsbee
- We have crosscurrents coming through on the data
- Price inflation on housing in the forefront of my mind
- See some bumps in the inflation road
- Nothing is ever "not on the table"
- Housing inflation has remained well above precovid. If inflation is to come down, that would have to tick down.
