Fed ‘united’ in inflation flight, ‘don’t know’ if recession will follow -Kashkari
3:59 pm Friday, July 08th, 2022
(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari said he and his fellow U.S. central bankers are “totally united” on getting too-high inflation back down to their 2% goal, but it is out of their control if doing so brings on a recession.
“We know that we have to, and we will, get inflation back down,” Kashkari said in Helena, Montana on Thursday. The bank distributed a recording https://www.youtube.com/watch?v=uHe9fSezBsY of his remarks on Friday. “We don’t know” if a recession will follow from the Fed’s aggressive rate hikes, he said. “Whether this actually leads to a recession or not is going to depend on, do we get help on the supply side?”
(Reporting by Ann Saphir; Editing by Tomasz Janowski)
