Minneapolis Fed president Neel Kashkari speaking in a CNBC interview
- Questions "why raise rates when inflation is low and falling?"
- Long end of the curve has not been moving
- Can be costly if Fed raises rates just to contain the stock market
- More than a million prime-age workers on the sidelines still
- US wages are not climbing at an accelerated rate
- Some colleagues are worried that inflation pressures are building
- People are "frustrated" that growth is not higher
- Big US banks need more capital
- Everybody around the table is happy with Powell choice as Fed Chair
- There are real costs to embedding low inflation expectations
- Fed has the "luxury of time" to let inflation show itself
This following his comments in an interview with the WSJ earlier here.
Once again, going all out in voicing his dissent at December's rate hike. Kashkari was one of two voting members who dissented the move - but of course he and Charles Evans (the other dissenter) will not be voting members in 2018.
