More Kashkari: It wasn’t labor markets that caused inflation

More from Fed’s Kashkari:

• It was not the labor market that caused inflation
• Very few transactions happened on crypto, unless it’s drugs or illegal activity
• Iimmigration policy will affect our reading of the labor market
• Tariffs shouldn’t be themselves leading to ongoing inflation probably a one-time change in price level
• Definitely want to avoid a recesion.
• Saw signs of labor market weakness which is why cut 50 bps
• Going forward, we will look at all the data to decide on rate policy.

I assume he puts the blame on the supply chain, the increasing fiscal policy and maybe even Fed overly stimulus policy – although he does not say what the cause(s) are.

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