Fed's Kashkari: Fed funds should remain unchanged at least through 2023
Kashkari to Reuters
- "Let's be patient"
- Balance sheet is in a good place and it's fine to discuss taper
- Notes that he's in favor of ending the dot plot. Notes that it's been too hawkish in the past
- High inflation readings should be short lived
- Maximum employment means 'at minimum' back to pre-pandemic levels
- It may take longer than Sept to judge progress on labor supply
- Still too soon to declare victory over covid-19
- Benefits of trimming MBS QE first would be modest
Isn't it poetic that they send out a hawk (Bullard) and a dove the day after the FOMC. They've done a good job of highlighting the extremes in the debate.
"As long as inflation expectations remain anchored... let's be patient and let's really achieve maximum employment," he said.