Federal Reserve's Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, has crossed the wires with various comments, arguing that the fed may need to be more aggressive.
We've done quite a bit to remove support for economy through forward guidance.
We are removing accommodation even faster than we added it at start of covid pandemic.
I don't know how high rates need to go to bring inflation down.
How much fed will need to will depend on supply side.
Labor market is not fully healed.
Labor market strong by almost any measure.
I don't know the odds of pulling off a soft landing.
I am seeing some evidence we are in a longer-term high inflation regime.
If so the fed may need to be more aggressive.
Fact that bond and stock market are adjusting means we have credibility.
Getting inflation back down is paramount.
In the face of a steadfastly hawkish Fed, the US dollar would be expected to remain firm so long as the economy continues to grow and avoids a recession.
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