Fed Kashkari

Fed's Kashkari is speaking and says:

  • Fed is focused on underlying demand in the economy to get inflation down.
  • Americans have been spending more than at one have expected.
  • Housing is an area very focused on.
  • The big question now is how restrictive is the current Fed policy
  • We probably need to sit here for a while longer to figure out where inflation is headed.
  • Fed's balance sheet runoff is going well
  • Fed is committed to 2% inflation goal
  • With higher US government debt, it might take higher borrowing costs in the near term to achieve 2% inflation.
  • His view is that Bitcoin has little practical use. Not an investment vehicle or a currency
  • Reiterates skepticism for the value of central-bank digital currency

Kashkari is not a voting member in 2024. He has been more hawkish of late.