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- Fed's Kashkari: Fed will do what is needed to bring things back into balance
Fed's Kashkari: Fed will do what is needed to bring things back into balance
Minneapolis Federal Reserve President and FOMC member Neel Kashkari said on Wednesday that the Fed is going to do what is needed to bring "thing" (the economy) back into balance. Some of the inflation should fade on its own as stimulus fades and people switch to buying services, he added.
Kashkari said that the Fed can soften demand by raising rates and tightening financial conditions, but that won't address supply-side issues. He also noted that his own recent experience with Covid had suggested to him that it will be a while until we can be comfortable living with the virus, before supply chains come back and before workers on the side-line can come back to work.
Market Reaction
There has not been any reaction to Kashkari's latest remarks, which haven't added anything new. Market attention is currently focused on the upcoming Fed minutes release and geopolitical developments regarding Russia/Ukraine.
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