Federal Reserve officials are united in the goal of bringing inflation back down to the 2% target, said Minneapolis Fed President Neel Kashkari on Tuesday.
Federal Reserve officials in rare agreement on the goal of bringing inflation down to the 2% target, said Minneapolis Fed President Neel Kashkari said Tuesday.
“The only other time I have seen us this united was the beginning of the pandemic, when we knew we had to act boldly to support the economy through the pandemic and through the downturn,” Kashkari said, during a question-and-answer session streamed by the Wall Street Journal. The Minneapolis Fed president said the Fed will work hard to achieve a “soft landing” and avoid a recession, but said that some of the supply-side factors that are out of the Fed’s control.Kashkari said he thought the Fed had to continue to raise its benchmark interest rate until there was compelling evidence that core inflation had peaked and was coming down.
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