Fed's Kashkari - Fed should be patient, allow inflation to build
|Fed's Kashakri's comments are crossing the wires via Reuters-
- Fed should be patient, let inflation build.
- Don't know if the US is at full employment.
- We are not sure about the neutral rate or output gap either.
- Best hope is that tax cuts lead to greater investment and productivity.
- Is very focused on wage growth, labor market slack and inflation.
- 2-percent inflation target would give Fed more flexibility in fighting future downturns.
- Fed will respond if inflation starts to show itself.
- We are seeing some signs of inflation building, but takes more than one month's data.
- Wants to see definitive signs of inflation rising to 2 percent before supporting more rate hikes.
- Not in favor of raising Fed inflation target.
- Can live with 2.5 percent inflation fore the next 5 years.
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