Economy

Fed’s Kashkari confident inflation can weaken, but not without pain

0


Minneapolis Federal Reserve President Neel Kashkari said Monday he’s confident inflation will come back to normal, though he added it will take longer than he expected.

Acknowledging that he was on “team transitory” in believing that surging prices wouldn’t last, he said persistent supply-demand imbalances have generated the highest inflation levels in more than 40 years.

While the Fed’s monetary policy tools can help tamp down demand, they can’t do much to get supply to keep up.

“I’m confident we are going to get inflation back down to our 2% target,” he told CNBC’s “Squawk Box” in a live interview. “But I am not yet confident on how much of that burden we’re going to have to carry versus…



Source cnbc.com

0 0 votes
Article Rating

Uber to cut down on costs, treat hiring as a ‘privilege’: CEO email

Previous article

Rivian (RIVN) Q1 2022 earnings preview

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Economy