- Analytics
- News and Tools
- Market News
- Fed’s Kashkari: Inflation is not being driven by wages
Fed’s Kashkari: Inflation is not being driven by wages
Minneapolis Federal Reserve (Fed) President Neel Kashkari is out with a barrage of comments on the central bank’s inflation outlook, in his appearance ahead of Thursday’s Consumer Price Index (CPI) data release from the United States.
Key quotes
Inflation is not being driven by wages.
Today's inflation is caused by supply chain challenges, stimulus, Russia's invasion of Ukraine.
Wages are trying to catch up to inflation, not driving it.
Our traditional models to analyze economy are not working very well right now.
Our economy's potential is lower today because of the pandemic.
Fed's job is to bring demand down to balance to lower level of supply.
We will do what we need to do to bring inflation back down.
Once we do I would expect interest rates to normalize.
we are going to get inflation back down.
if we get further help on the supply side that increases the probability of a soft landing.
we will do everything we can to achieve a soft landing while getting inflation down - its not entirely up to the Fed though.
I wish we had begun tightening policy sooner.
even if we had started to tighten earlier we would still have high inflaiton.
some things are out of our contrl on inflation.
Market reaction
The US Dollar Index is back in the red at around 110.25, down 0.25% on the day. The spot is unperturbed by the above comments.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
