Kashkari Prefers Stronger Tone on Rates

President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday the monetary policymakers need to take better measurements to ensure the economy restore its pre-crisis levels.

“I would have preferred the Committee make a stronger commitment to not raising rates until we were certain to have achieved our dual mandate objectives.”

“Not raising rates for roughly a year after core inflation first crosses 2% is consistent with a strategy of aiming for a modest overshoot in order to achieve average inflation of 2%.”