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Fedspeak Watch October 12 - Comments by Minneapolis Fed President Neel Kashkari

Fedspeak Watch October 12 - Comments by Minneapolis Fed President Neel Kashkari

Diego Colman, Strategist

Speaker: Neel Kashkari, president and CEO of the Federal Reserve Bank of Minneapolis

FOMC Voting Member: No

Venue: Town hall event in Rhinelander, Wisconsin

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Key Fed Comments:

  • The Fed is working hard to get inflation back down to 2%
  • Fed has not seen much evidence that underlying inflation is softening
  • The strong labor market signals the U.S. economy is not in a recession
  • There may be a housing downturn, but not a hard crash
  • U.S. household finances are stronger than pre-pandemic
  • The Fed’s actions have been very aggressive
  • The U.S. central bank must “walk the walk” to validate market expectations
  • The strong U.S. dollar is making inflation less costly, but it is creating challenges for other nations around the world
  • The bar for a monetary policy pivot is "very high" for the central bank

Fedspeak to Watch Out For in the Coming Days

  • Kansas City Federal Reserve Bank President Esther George will discuss the economic outlook on October 14, 2022
  • Federal Reserve Governor Lisa Cook will discuss economic developments on October 14, 2022
  • Federal Reserve Governor Christopher Waller will address central bank digital currency on October 14, 2022

Related: Learn How Monetary Policy Impacts Global Markets

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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