Comments from the Minneapolis Fed President
- Monitoring data closely to see if high inflation readings will be temporary or not
- Still 6-8 million Americans not working who would have been if pandemic had not happened
- Base case scenario is that people who want to work will return
- Fed would raise rates to fight inflation if needed
- Delta effects could lead to a more sluggish recovery
- Delate variant is a risk
If you like maximum hand-wringing, wouldn't Kashkari for Fed Chair be interesting?