Kashkari chooses between ‘faith and data’
Minneapolis Fed president says FOMC should have waited to see if inflation rise was transitionary
The president of the Federal Reserve Bank of Minneapolis has said he was torn between “faith and data” during the Federal Open Market Committee’s (FOMC) latest monetary policy decision.
In an essay published online, Neel Kashkari stressed the US economy was currently sending “mixed signals” to policymakers: a tight labour market and weakening inflation.
“When I’m torn between faith and data, I look at decisions from a risk management perspective,” Kashkari said.
The Fed president warned
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