Fed's Kashkari: Fed's policy tightening has led to low inflation
|Key highlights (via LiveSquawk) from the essay titled "My Take on Inflation" by Minneapolis Fed President Neel Kashkari:
- Fed's policy tightening has led to low inflation
- Fed should proceed with caution before tightening policy further
- Prefers Fed not raise rates until core PCE inflation reaches 2%
- Job growth, wage growth, inflation weaker than would have been had Fed not raised rates
- Labor market slack, falling inflation expectations are causing persistently low inflation
- Allowing inflation expectations to slip give Fed less room to respond to future economic downturn
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