Fed's Kashkari: My warning to colleagues is, 'Let's not overdo it'

time:2022-02-17 01:30 source:Internet

February 17 news, Fed Kashkari: The Fed can soften demand by raising interest rates and tightening financial conditions, but this will not solve the problem of supply. Most forecasters see inflation falling to 3% by the end of the year. I don't expect a return to the 2% target before the end of the year, but we're on track to get there. The Fed will be watching the data over the next six months to ensure inflation is heading towards 2%. I think there is a greater risk of a low inflation environment in the next few years. If we do raise interest rates significantly, there is a risk of tipping the economy into recession. My warning to my colleagues is, "Let's not overdo it". In order to deal with the risk of high inflation, it is appropriate to normalize policy.

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