Fed Pres. Kashkari is speaking and says
- Inflation is too high
- A huge question mark about how long Strait of Hormuz will be closed, that will have a big effect on inflation.
- Fed needs to get back to 2% inflation, should not move the goalposts.
- Before the Iran conflict, had confidence that the inflation was heading back down to 2%.
- Labor market moving sideways, lukewarm
- Iran shop has upended inflation environment
- Labor market looks like it’s hanging in there
- Not sure if it’s policy rate decisions will have much effect on mortgage rates.
- Even if the Strait of Hormuz reopens, it will be months before supply chains reach normality.
- Not surprised by headline inflation rise, what matters is how persistent the Strait closure is.
This article was written by Greg Michalowski at investinglive.com.
