Neel Kashkari - Federal Reserve

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Last quote by Neel Kashkari

We know that monetary policy operates with a lag. I believe these actions to remove various forms of accommodation are now having an effect on the economy by lowering inflation expectations. In my view, inflation expectations declined because actual inflation was below target for a long time, and the Fed's actions to reduce accommodation led to a weakening of confidence that it was serious about bringing inflation back to target in a reasonable time frame.feedback
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Oct 02 2017
Find all of Neel Kashkari’s quotes that have been published in 46 different articles on this page. Neel Kashkari’s quotes are organized by date and topic, making it easy for you to compare, for example, what Neel Kashkari has said both recently, and in the past, on a variety of topics. Some of the topics Neel Kashkari likes to comment on include Congress and Dodd Frank. Most recently, Neel Kashkari said, “Allowing inflation expectations to slip further will mean that we will have less powerful tools to respond to a future economic downturn. I believe these are significant costs that we must consider as we contemplate the future path of policy.”.
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Neel Kashkari quotes

Jun 16 2017

If we are making a mistake, we are making a small mistake now that I think we can recover from. I am not sounding an alarm bell like, Iceberg ahead!feedback

Jun 16 2017

I wish other people were joining me in my dissents, I'll say that. I think that there's more sympathy for my views, but maybe people aren't ready to take action.feedback

Jun 14 2017

We are still coming up short on our inflation target, and the job market continues to strengthen, suggesting that slack remains.feedback

May 17 2017

I won't say never but a whole lot of evidence would have to line up just right for it to be the prudent course of action.feedback

May 10 2017 - Dodd-Frank Act

Progress has been made. I wouldn't want to roll that back off the biggest banks. I do want to roll back some of that ... off of the little banks that are not systemically risky for the country that are being caught up in the same regulatory net.feedback

May 09 2017 - Bitcoin

I think sentiment has shifted in the markets, in the Fed.feedback

May 01 2017 - Federal Reserve

For the last five or six years, the Federal Reserve keeps predicting inflation is around the corner. And those predictions end up being wrong.feedback

Apr 24 2017

I don't see infrastructure holding back our economic growth.feedback

Apr 21 2017 - Immigration

We can either accept slower growth, we can subsidize fertility, which is pretty expensive, right, or you can embrace immigration. And those are the three choices, and that's literally math, and you can pick which one you like.feedback

Apr 07 2017 - Twitter

Glass-Steagall by itself will not address 'too big to fail.feedback

Apr 06 2017

Although capital standards are higher than before the last crisis, they are not nearly high enough. The odds of a bailout in the next century are still nearly 70 percent. The most recent crisis showed that even some debt holders who had been explicitly told that they would take losses during a crisis got bailed out. Only true equity should be considered loss-absorbing in a crisis. The largest banks do not have enough equity today to protect taxpayers. Too big to fail is alive and well. Taxpayers are on the hook.feedback

Mar 23 2017

There's no reason to hold it – there are a lot of policy tradeoffs we have to choose from. Once we come to consensus on those tradeoffs, I would like us to publish that as soon as possible. I think we would do ourselves a favor by giving the markets as much time as possible to understand it, prepare for it, so there are as few surprises as possible.feedback

Mar 17 2017

The announcement of our balance sheet plan could trigger somewhat tighter monetary conditions. After it has been published and the market response is understood, we can return to using the federal funds rate as our primary policy tool, with the balance sheet normalization under way in the background. If we are surprised by higher inflation than we currently expect, we might need to raise rates more aggressively. Some argue that gradual rate increases are better than waiting and having to move aggressively. It isn't clear to me that one path is obviously better than the other.feedback

Mar 17 2017

This surprised us a bit because it suggests that there were many more people who were interested in working than historical patterns predicted.feedback

Feb 21 2017

I think that process has more room to run.feedback

Feb 07 2017

From a risk management perspective, that suggests, if we are to err, it is better to err on the side of being more accommodative than being more restrictive.feedback

Feb 07 2017

From a risk management perspective, we have stronger tools to deal with high inflation than low inflation. Looking at all this together led me to vote to keep rates steady. The bottom line is the job market has improved substantially, and we are approaching maximum employment. But we aren't sure if we have yet reached it. We may not have.feedback

Feb 07 2017

Our near-term policy predictions have been wrong a lot over the past few years – better to not make such predictions in the first place.feedback

Feb 07 2017

Monetary policy has been at least this accommodative for several years, including the effects of the Federal Reserve's expanded balance sheet, without triggering a rapid tightening of the labor market or a sudden increase in inflation.feedback

Feb 07 2017

If we are to err, it is better to err on the side of being more accommodative than being more restrictive. Financial markets are good at some things, but, in my view, notoriously bad at forecasting political outcomes.feedback

Jan 18 2017 - Federal Reserve

If we can do the research to understand the root causes of the problems and identify potential fiscal policy solutions or other approaches, I believe it is appropriate for the Federal Reserve to do that research.feedback

Jan 18 2017

We'd be foolish to ignore the political landscape we are operating in.feedback

Jan 18 2017

The truth is I don't know what the new administration and the new Congress are ultimately going to enact. I don't feel like I have enough information to meaningfully change our forecast on the economy until we get some more clarity on what at least those proposals look like.feedback

Jan 07 2017 - Dodd-Frank Act

I'm optimistic that if Congress now says we are going to take a fresh look at bank regulation, we are going to take a fresh look at Dodd Frank, there may be a real opportunity to weigh in and say, let's be much more aggressive on capital requirements.feedback

Nov 17 2016

That's a tough thing to achieve.feedback

Nov 17 2016

I'm experimenting on a lot of different fronts, specifically because of the kind of public pressure that we're under.feedback

Nov 17 2016

Trust me, I've had my share of critics, but I don't block people.feedback

Nov 17 2016

I'm not looking for a new job. I got to Minneapolis less than a year ago. Very happy there.feedback

Nov 17 2016

That would be good if it actually came true. It would make our jobs a heck of a lot easier. But we need to wait and see.feedback

Nov 17 2016

I think if most Americans knew that they'd say that's ridiculous. That's much too high.feedback

Nov 17 2016

The markets are speculating about what they think the new Congress and the new president are going to do. And that, so far, seems to be helping the Fed, boosting inflation expectations a little bit.feedback

Nov 16 2016

I believe the biggest banks are still TBTF and continue to pose a significant, ongoing risk to our economy.feedback

Oct 11 2016

My view is let's let the economy keep creating jobs, bringing workers off the sidelines so long as it's not creating inflation.feedback

Oct 05 2016

Growth since the Great Recession has been steady but stubbornly slow, leaving output well below expectations (and has) contributed to exacerbating the persistent and wide gaps in income among our country's racial and ethnic groups.feedback

Sep 29 2016

The economy still has room to run before it overheats.feedback

Sep 23 2016

Believe still slack in labor mkt. Want to see headline unemploy rate come down as sign fewer people coming off sideline. Don't see it yet.feedback

Sep 23 2016

Official position is it is a target not ceiling. I wonder some times. Some policy recommendations seem to imply otherwise.feedback

Sep 22 2016

Risks are asymmetric. Worry more about too quickly.feedback

Sep 12 2016

Politics does not play a part.feedback

Sep 12 2016

Demographics is not a monetary policy problem. We are not going to solve demographic problems with low interest rates.feedback

Sep 12 2016

Monetary policy is largely doing what it can to support a robust recovery, and what remains are fiscal and regulatory policies.feedback

Sep 12 2016

Another promising policy is immigration reform, especially for high-skilled workers.feedback

Sep 12 2016

I am skeptical that a large-scale expansion of government spending by itself is the best way forward, since larger fiscal deficits will lead to higher expected future taxes, which could further undermine private sector confidence.feedback

Jul 13 2016

The key driver for us is, how do we put as many people back to work as possible while preventing the economy from overheating.feedback

Jun 20 2016

My outlook is for continued moderate economic growth [and] inflation gradually returning to our 2 percent target.feedback

Jun 20 2016

More capital has downsides that need further exploration. In particular, higher capital could raise the cost of lending and potentially reduce economic activity.feedback

Apr 04 2016

That's a good thing and we should let that process continue while inflation is running below our target.feedback

Apr 04 2016

My view is, let's put people back to work as long as we have room on inflation.feedback

Feb 19 2016

I challenge anybody who thinks, in a stressed time, we would put these banks through resolution. I really don't think it will happen.feedback

Feb 18 2016

I don't see this as a partisan issue. I do think there are people on both sides of the aisle who care about this issue and think we should take stronger action. It wasn't a political statement. It was a statement about economic risks.feedback

Feb 18 2016

I think that they are surprised and I expect them to push back pretty hard.feedback

Feb 18 2016

I'm not shy about expressing my opinions. But I also think that having chatter for the sake of having chatter is not necessarily a good thing.feedback

Feb 18 2016

I've never met Senator Sanders and I don't know him and I've never spoken to him. This is not about politics. If we can demonstrate to the American people that there is a diversity of views within the (Fed) and people are outspoken, what better way to demonstrate that we are not political or beholden to the (White House) or any political party. I think this shows more independence.feedback

Feb 17 2016

It's also economic conditions around the world [that] are causing interest rates to be low and necessitating low interest rates.feedback

Feb 17 2016

I don't think that's an answer people are going to find acceptable. So now is the time to consider a more transformational solution.feedback

Feb 17 2016

If other countries want to take huge risks with their financial systems, we can't stop them.feedback

Feb 17 2016

The banks are stronger. They have more capital, deeper sources of liquidity. Progress has been made, but if we have a stressed economic environment and multiple banks are in trouble at the same time, the government is going to have to step in and bail them out.feedback

Feb 17 2016

We are in somewhat of a pickle. We all want to get inflation creeping back.feedback

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