Economics
Kashkari Flips From Fed’s Biggest Pre-Pandemic Dove to Top Hawk
- Minneapolis Fed’s Kashkari now has highest rate projections
- Softer July inflation data don’t change path, Kashkari says
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Federal Reserve Bank of Minneapolis President Neel Kashkari, for a long time the US central bank’s biggest dove, is now its biggest hawk.
Kashkari said that he wants to raise the central bank’s benchmark interest rate to 3.9% by the end of this year, and to 4.4% by the end of 2023. That makes him the most hawkish participant on the Fed’s rate-setting Federal Open Market Committee, according to the so-called “dot plot” of interest-rate projections published after the central bank’s June policy meeting.