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MNI BRIEF: Kashkari Says Need To Hike Creates Recession Risks

(MNI) Ottawa

Minneapolis Federal Reserve President Neel Kashkari said Thursday the need for more interest-rate increases to slow inflation boosts recession risks.

“We know we have more work to do in raising interest rates to bring inflation down,” and that task is urgent, Kashkari said in a question-and-answer session. “I don’t think we’re in a recession right now,” he said, adding that as interest rates climb “it should be tapping the brakes on the U.S. economy and that makes it more likely that we would end up in a recession.”

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Minneapolis Federal Reserve President Neel Kashkari said Thursday the need for more interest-rate increases to slow inflation boosts recession risks.

“We know we have more work to do in raising interest rates to bring inflation down,” and that task is urgent, Kashkari said in a question-and-answer session. “I don’t think we’re in a recession right now,” he said, adding that as interest rates climb “it should be tapping the brakes on the U.S. economy and that makes it more likely that we would end up in a recession.”

Keep reading...Show less