Minneapolis Fed President Neel Kashkari said in a CNBC interview that he remains open-minded about future policy choices and does not favor aggressive rate hikes. He attributes most recent inflation to supply shocks, with some demand factors layered on top. Kashkari said it is time to begin gradually raising rates, but he does not support large increases. He also stressed the value of maintaining the tradition of explaining the Fed's policy reaction function to the public, and cautioned against assuming any particular number of meetings determines policy action.
Federal Reserve official Neel Kashkari said in a CNBC interview that he remains open to future policy choices and does not advocate aggressive interest rate hikes.
He attributed most of the recent inflation to supply shocks, with some demand factors layered on top. "My goal is not to slow the economy, it is to bring inflation down," Kashkari said.
He believes it is time to begin gradually raising interest rates, but stressed he does not support large increases.
Kashkari also highlighted the value of maintaining the tradition of explaining the Fed's policy reaction function to the public. "Don't think there's some magical number of meetings," he said.
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