- Minneapolis Fed president Kashkari: Fed should have adopted more forceful forward guidance to return U.S. economy to full strength - Reuters
Market news
18 September 2020
Minneapolis Fed president Kashkari: Fed should have adopted more forceful forward guidance to return U.S. economy to full strength - Reuters
- Says he wanted Fed to vow to delay interest rate hikes until core inflation had stayed at 2% for roughly a year
- Not raising rates for roughly a year after core inflation first crosses 2 percent is consistent with strategy of aiming for modest overshoot in order to achieve average inflation of 2 percent
- I would have preferred the Committee make stronger commitment to not raising rates until we were certain to have achieved our dual mandate objectives
- Says Fed should not tie rate hikes at all to readings of the labor market
- Says he dissented during Fed's last round of rate hikes
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