Both Minneapolis Fed President Neel Kashkari and Atlanta Fed President Raphael Bostic appeared to be more concerned with getting the job market back to normal, than the higher transitory inflation.
Kashkari said yesterday, “putting Americans back to work…to me that’s our highest priority.” He also emphasized “we don’t want to overreact to short-term price movements.”
Separately, Bostic said, “without clear data demonstrating that an inflationary problem has arrived and is likely to last, we will allow labor markets to run their course, which can further our pursuit of long-run maximum employment.”
