Kashkari Says Economy Still Needs Low Rates as Inflation Lags
- U.S. central bank still coming up short on mandates, he says
- Too early to gauge economic impact of Trump policies: Kashkari
JPMorgan's Michele Calls for a March Fed Rate Hike
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Federal Reserve Bank of Minneapolis President Neel Kashkari justified his vote last week to leave interest rates unchanged by saying inflation is in check and the U.S. job market seems to have more room to improve.
“We are still coming up somewhat short on our inflation mandate, and we may not have yet reached maximum employment,” Kashkari said Tuesday in an essay posted on the bank’s website to explain his decision. “That suggests that somewhat accommodative monetary policy would still be appropriate to close those gaps.”