Fed's Kashkari says not clear how much of a long-term difference tax cut will make

Market news

22 February 2018

Fed's Kashkari says not clear how much of a long-term difference tax cut will make

Don't really know if U.S. is at full employment
We are not sure about neutral rate, or output gap either
Fed should be patient, let inflation build
Is very focused on wage growth, labor market slack and inflation
Hitting 2-pct inflation target would give Fed more flexibility in fighting future downturns

Fed's Quarles says gradual U.S. interest rate increases 'appropriate'

Most FOMC voting policymakers said recent data supported view inflation will rise in 2018 and stabilize around 2 pct over medium term ; a couple were concerned about inflation outlook

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