MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Kashkari - Need To Pay More Attention To Actual Inflation Data With Question Over Models

FED
Credit BulletsEM BulletHomepagemarkets-real-timeCommoditiesEmerging Market NewsMetals bulletCreditEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets
Kashkari (non-voter) speaking in a fireside chat on his economic outlook. There has so far been little specific reaction to today's CPI report. Bloomberg headlines:
  • FED'S KASHKARI: NEED TO PAY MORE ATTENTION TO ACTUAL INFLATION
  • HOUSING MARKET HAS BEEN MORE RESILIENT THAN EXPECTED, HOUSING IS AN AREA I'M VERY FOCUSED ON RIGHT NOW
  • BIG QUESTION IS HOW RESTRICTIVE POLICY IS RIGHT NOW, THAT TELLS ME PROBABLY NEED TO WAIT 'A WHILE LONGER'

Context on the above point about paying attention to actual inflation data: "We’ve got very sophisticated models to try and predict how the inflation data will respond. Those models have not done a very good job given some unique dynamics. So we have to pay more attention to what’s happening to actual inflation and what’s happening in the real economy. That means are Americans spending? People have been spending a lot more than I would have guessed given where interest rates are." [in light of today’s retail sales miss]

158 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Kashkari (non-voter) speaking in a fireside chat on his economic outlook. There has so far been little specific reaction to today's CPI report. Bloomberg headlines:
  • FED'S KASHKARI: NEED TO PAY MORE ATTENTION TO ACTUAL INFLATION
  • HOUSING MARKET HAS BEEN MORE RESILIENT THAN EXPECTED, HOUSING IS AN AREA I'M VERY FOCUSED ON RIGHT NOW
  • BIG QUESTION IS HOW RESTRICTIVE POLICY IS RIGHT NOW, THAT TELLS ME PROBABLY NEED TO WAIT 'A WHILE LONGER'

Context on the above point about paying attention to actual inflation data: "We’ve got very sophisticated models to try and predict how the inflation data will respond. Those models have not done a very good job given some unique dynamics. So we have to pay more attention to what’s happening to actual inflation and what’s happening in the real economy. That means are Americans spending? People have been spending a lot more than I would have guessed given where interest rates are." [in light of today’s retail sales miss]