Speaks at the University of Minnesota
- There may be more slack in the US employment
- The Fed may have let the inflation expectations to drift lower
- The Fed hikes may have done real harm to economy
- The Fed target has come up short of expectations
- Fed is coming up short of inflation mandate
- Wage growth is not high. Why are we raising rates?
- Premature Fed hikes are not free
- If immigration tapers, our economy will grow more slowly.
- Markets do a lousy job of predicting government legislation.
- Doesn't see bitcoin replacing the dollar
Kashkari is dove. He has been consistent in his argument that a target rate does not have to be a ceiling and argued that having inflation go above 2% - especially from where we came - would be a good thing. He is also the proponent on too big to fail and regulating banks - mainly by insuring they have a large enough buffer of capital. I don't really find his comments today all that surprising.
