Kashkari Criticizes Fed Decision to Tighten Amid Low Inflation
- Inflation data didn’t justify rate hike this week: Kashkari
- FOMC repeating mistakes of 1970s, Minneapolis Fed chief says
Fed Chair Janet Yellen's Press Conference in Two Minutes
This article is for subscribers only.
Federal Reserve Bank of Minneapolis President Neel Kashkari said he dissented against the central bank’s decision to raise interest rates this week because of recent softening in inflation data.
“If we base our outlook for inflation on these actual data, we shouldn’t have raised rates this week,” Kashkari, who votes this year on the policy-setting Federal Open Market Committee, said Friday in an essay published on the Minneapolis Fed’s website.