Minneapolis Fed President Neel Kashkari said yesterday, “we know we have to get inflation down; we are doing everything we can to achieve a ‘soft landing,’ but I’ll be honest with you: I don’t know the odds of us pulling that off.”
On recent stock market rout, he said, “The wealth effect is a real thing…those who have stocks have higher 401Ks, they feel more confident, they go out and spend more, when those things come down, it may change their behavior… we do pay attention to that feedback.”
