Minneapolis Fed President Neel Kashkari said in a CBS interview on Sunday, “we are a long way away from achieving an economy that is back at 2% inflation, and that’s where we need to get to.”
“Whether we are technically in a recession or not doesn’t change my analysis,” he added. “I’m focused on the inflation data. I’m focused on the wage data. And so far, inflation continues to surprise us to the upside. Wages continue to grow.”
“Typically, recessions demonstrate high job losses, high unemployment, those are terrible for American families. And we’re not seeing anything like that,” he said.
“Whether we are technically in a recession or not doesn’t change the fact that the Federal Reserve has its own work to do, and we are committed to doing it,” Kashkari said.
