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Kashkari: Supported 75 bps increase in June, could support another in July
uber dove FED'S KASHKARI: I SUPPORTED 0.75 BPS INCREASE IN JUNE, COULD SUPPORT ANOTHER IN JULY...
— FxMacro (@fxmacro) June 17, 2022
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FED'S KASHKARI: NEED TO BE CAUTIOUS ABOUT TOO MUCH FRONT LOADING ON RATE HIKES
— Breaking Market News (@breakingmkts) June 17, 2022
FED'S KASHKARI: PRUDENT STRATEGY MIGHT BE TO CONTINUE WITH 50 BPS RATE HIKES AFTER JULY MEETING
FED'S KASHKARI: FED WOULD STILL NEED TO BE DATA DEPENDENT
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FED'S KASHKARI: IF INFLATION DRIFTS HIGHER, OR SUPPLY SIDE DOES NOT IMPROVE, MIGHT NEED TO CONTINUE RAISING RATES BEYOND WHAT CURRENTLY IS FORECASTED.
— Breaking Market News (@financialjuice) June 17, 2022
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FED'S KASHKARI: A STEADY APPROACH TO RAISING RATES MAY HELP US AVOID TIGHTENING MORE THAN NECESSARY.
— Breaking Market News (@financialjuice) June 17, 2022
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Kashkari: Policy Has Tightened a Lot. Is It Enough?
On May 6 I published an essay explaining why I focus on long-term real rates to evaluate the overall stance of monetary policy, including effects from both the setting of the federal funds rate and changes to the Federal Reserve’s balance sheet. Please see that essay for a discussion of why long-term real rates drive economic activity rather than short rates or nominal rates. I argued then that monetary policy had already tightened a lot, but I was unsure if that tightening would be enough to bring inflation back down to the Federal Open Market Committee’s (FOMC’s) 2 percent target in a reasonable period of ... (full story)