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Neel Kashkari
Minneapolis Fed President
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The economic 'constellations' underpinning his case that policy is not particularly restrictive.
Corporate earnings are through the roof. They're doing great. The consumer is hanging in there. The labor market is hanging in there.
BullFed
hedged · 2026-08-05
Responding to host's note that Brian Moynihan's team sees possibly three rate hikes by end of the year.
Well, that's not impossible in my view. I mean, if inflation continues to move sideways or even get worse from here, then I think we're gonna have to start gradually adjusting interest rates to bring things back down.
After discussing whether balance-sheet shrinkage could substitute for hikes; he says the fed funds rate is the primary tool.
I'm not calling for a dramatic increase in interest rates. I'm simply saying, I don't see evidence that monetary policy is marginally restrictive right now, and I think we have more work to do to get inflation back down. And I would rather get going now in small steps than wait till later than we have a really entrenched inflation problem and have to raise rates aggressively then.
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