8/10/2022, 8:38 PM (Source: TeleTrader)
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Recession wouldn't deter me from action on prices - Kashkari

Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday that a recession would not deter him from "advocating" that the central bank does "what is needed" to bring inflation down to the 2% target.

Speaking at the Aspen Economic Strategy Group's 2022 Annual Meeting, he acknowledged that he is "happy" that the July inflation report "surprised to the downside."

Even though he noted it could be the first hint that inflation may be moving in the right direction, the report did nothing to change his projections on interest rates, the Minneapolis Fed president explained.

Baha Breaking News (BBN) / MS