Minneapolis Fed president Neel Kashkari in a phone interview with the WSJ earlier today
- Next year's expected policy path is a risky situation for the committee
- Concerned about what the bond market is telling us
- Fed's "hawkish" policy is depressing long-dated yields by convincing investors that inflation will remain low for a long time
- Fed runs a risk of setting in motion a process where inflation won't return to its target
- Many Fed officials are counting on faith to deliver the outcome they want to see
Some harsh words towards his fellow colleagues there by Kashkari. But his opinion is not one that would matter anymore - as he will not be on the voting board for 2018.
Kashkari and Charles Evans - both dissenters in December's meeting where the Fed decided to raise rates - will not be voting members in 2018.
Full interview transcript here.
