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MNI BRIEF: Fed's Kashkari Favors Wait And See Policy Approach

“We probably need to sit here for a while longer," says Minneapolis Fed President.

USPolicy NewsHomepageCentral Bank NewsFederal ReserveNorth AmericaBriefStoryRegion

The Federal Reserve should keep monetary policy on hold for now given uncertainty about how tight policy actually is and against a backdrop of inflation that has fallen from its peaks but is still too high, Minneapolis Fed President Neel Kashkari said Wednesday.

“We probably need to sit here for a while longer until we figure out where underlying inflation is headed before we jump to any conclusions,” Kashkari said during a fireside chat in North Dakota. “The big question on my mind is how restrictive is policy now? It seems like there’s more resilience in the economy than I had expected.” (See MNI INTERVIEW: Demand Boom Keeps Fed Patient For Longer-Koenig)

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The Federal Reserve should keep monetary policy on hold for now given uncertainty about how tight policy actually is and against a backdrop of inflation that has fallen from its peaks but is still too high, Minneapolis Fed President Neel Kashkari said Wednesday.

“We probably need to sit here for a while longer until we figure out where underlying inflation is headed before we jump to any conclusions,” Kashkari said during a fireside chat in North Dakota. “The big question on my mind is how restrictive is policy now? It seems like there’s more resilience in the economy than I had expected.” (See MNI INTERVIEW: Demand Boom Keeps Fed Patient For Longer-Koenig)