Feds Kashkari: Would be great to get back to full employment by 2023

Author: Greg Michalowski | Category: Central Banks

Minneapolis Fed president Nee Kashkari. Not a voting member in 2021

Minneapolis Fed president Nee Kashkari. Not a voting member in 2021
  • It is true US unemployment rate is around 9.5%
  • I hope we can make a lot of progress this year on jobs, will depend on vaccines, virus
  • would be great to get back to full employment by 2023
  • we need to get back to where we were before pandemic and need to go beyond that
  • when labor market gets tight enough that wage growth picks up, get 2% inflation, that's full employment
  • not concerned about inflation now
  • we have a very powerful tools if inflation starts to rise in a sustainable way
  • if we were seeing a real uptick in real yields that would give him a pause. We are not seeing much movement in real yields
  • most moves are in inflation expectations
  • recent movements in treasury market suggest that feds framework is delivering what we wanted
  • any time you try to design a targeted assistance, you end up missing people who need it
  • applauds Congress for wanting to do more to help out of work Americans
  • downside is you could give money to people who don't need it, but if they save it it's not inflationary
  • this crisis has been disproportionately targeted to low income workers
  • not concerned about the "wartime" deficit spending that we need to do right now
  • many people hit most of my pandemic are not able to get economic or health resources they need
  • on Minnesota ice fishing, he has done it once and had the typical Minnesota experience, he drank beer and did not catch anything.  ; )
Kashkari is speaking in a Washington Post online interview

CLICK HERE to watch the interview
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