Fed's Kashkari: There may be a housing downturn but not necessarily a crash

US 30-year fixed mortage rates are up to 7.11%. That's put a halt to all real estate activity. That will give the supply chain a chance to catch up on materials but there simply aren't enough houses in the US and a slowdown (or crash) now is planting seeds for material undersupply.

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• By moving up rates at an aggressive but not overwhelming pace, allows room for assessment of economy
• Tremendous uncertainty about fundamentals of US economy
• It's a judgement call on whether we move in 50 or 75 bps increments on rates
• We're not seeing much evidence that underlying inflation is softening
• We will raise rates to perhaps 4.5% then stay there for 'a while' to assess

Given the lags in monetary policy, I don't know how much time there is to assess anything. Tomorrow's 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 report will be pivotal for the next meeting.