Feds Kashkari: Fed is focused on underlying demand to bring inflation down

Fed’s Kashkari is speaking and says:

• Fed is focused on underlying demand in the economy to get inflation down.
• Americans have been spending more than at one have expected.
• Housing is an area very focused on.
• The big question now is how restrictive is the current Fed policy
• We probably need to sit here for a while longer to figure out where inflation is headed.
• Fed’s balance sheet runoff is going well
• Fed is committed to 2% inflation goal
• With higher US government debt, it might take higher borrowing costs in the near term to achieve 2% inflation.
• His view is that Bitcoin has little practical use. Not an investment vehicle or a currency
• Reiterates skepticism for the value of central-bank digital currency

Kashkari is not a voting member in 2024. He has been more hawkish of late.

This article was written by Greg Michalowski at www.forexlive.com.