Speaker: Neel Kashkari, president and CEO of the Federal Reserve Bank of Minneapolis
FOMC Voting Member: No
Venue: Town hall event in Rhinelander, Wisconsin
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