Neel Kashkari, Interview: Journal of Financial Regulation Conference

“I can only speak for myself. I think we are… Hey guys, can we focus here? I think we are laser focused on getting inflation down, and whether we are technically in a recession right now or not, it doesn’t change my analysis. I’m focused on inflation and where inflation is likely going, and that, to me, my opinion is what we have to focus on right now. If you look at financial markets, some financial markets are indicating that they expect us to cut interest rates next year. I don’t want to say it’s impossible, but it seems like that’s a very unlikely scenario right now, given what I know about the underlying inflation dynamic. So more likely scenario is we would continue raising and then we would sit there until we have a lot of confidence that inflation is well on its way back down to 2% before we would start to cut.”