Central Banks
Kashkari Says ‘Very Clear’ Fed Needs to Tighten Monetary Policy
- Minneapolis Fed chief seeks ‘compelling evidence’ on prices
- Says strong dollar could mute inflation, impact policy
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Federal Reserve Bank of Minneapolis President Neel Kashkari said US inflation is very high and the central bank must act to bring it back under control.
“By many, many measures we are at maximum employment and we are at very high inflation. So this is a completely unbalanced situation, which means to me it’s very clear: We need to tighten monetary policy to bring things into balance,” he said Tuesday at a gathering of the Wharton Club of Minnesota in Minneapolis.