Fed’s Kashkari Says Policy Shouldn’t Overreact to Inflation

From bnnbloomberg.ca

Federal Reserve Bank of Minneapolis President Neel Kashkari said the U.S. central bank shouldn’t overreact to elevated inflation even as it causes pain for Americans, because it is likely to prove temporary. “The high prices that families are paying, those are real and people are experiencing that pain right now,” Kashkari said Sunday on CBS’ “Face the Nation.” “We need to take it very seriously, but my view is we also need to not overreact to some of these temporary factors even though the pain is real,” he said. The consumer price index increased 6.2% in the 12 months through October, the fastest ... (full story)