Fed's Kashkari: We have to do our best to achieve our dual mandate

Some final remarks from Minneapolis Fed Pres. Kashkari:

• right now by most measures the labor market is very strong
• if job market softens a little bit to bring down inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term, that's not much of a trade-off
• a recession would most hurt low income workers
• but if we don't get inflation under control, low income workers are also the ones hurt the most
• we have to do our best to achieve our dual mandate
• I'm hoping we get some help along the way so Fed doesn't have to do all the work on the breaking down inflation
• I am still optimistic labor force participation will rise further, but priority is bringing down inflation
• I expect home price growth to at least start cooling off
• I don't really buy into the "great resignation" theory
• Lots of people are switching jobs
• My business contacts are telling me they need a more robust supply chain to reduce vulnerabilities
• We have to avoid a wage price spiral taking place
• We need to get rates to at least neutral and moderately above by the end of the year or early next
• How much we need to go beyond neutral depends on incoming data
• We are going to walk the walk on our forward guidance

Kashkari is a alternate member on the FOMC this year. He will be a full voting member next year and tends to be 1 of the more dovish Fed President's.