Neel Kashkari - Federal Reserve

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Last quote by Neel Kashkari

I won't say never but a whole lot of evidence would have to line up just right for it to be the prudent course of action.feedback
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May 17 2017
Find all of Neel Kashkari’s quotes that have been published in 35 different articles on this page. Neel Kashkari’s quotes are organized by date and topic, making it easy for you to compare, for example, what Neel Kashkari has said both recently, and in the past, on a variety of topics. Some of the topics Neel Kashkari likes to comment on include Congress and Dodd Frank. Most recently, Neel Kashkari said, “Progress has been made. I wouldn't want to roll that back off the biggest banks. I do want to roll back some of that ... off of the little banks that are not systemically risky for the country that are being caught up in the same regulatory net.”.
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Neel Kashkari quotes

From a risk management perspective, that suggests, if we are to err, it is better to err on the side of being more accommodative than being more restrictive.feedback

From a risk management perspective, we have stronger tools to deal with high inflation than low inflation. Looking at all this together led me to vote to keep rates steady. The bottom line is the job market has improved substantially, and we are approaching maximum employment. But we aren't sure if we have yet reached it. We may not have.feedback

Our near-term policy predictions have been wrong a lot over the past few years – better to not make such predictions in the first place.feedback

Monetary policy has been at least this accommodative for several years, including the effects of the Federal Reserve's expanded balance sheet, without triggering a rapid tightening of the labor market or a sudden increase in inflation.feedback

If we are to err, it is better to err on the side of being more accommodative than being more restrictive. Financial markets are good at some things, but, in my view, notoriously bad at forecasting political outcomes.feedback

If we can do the research to understand the root causes of the problems and identify potential fiscal policy solutions or other approaches, I believe it is appropriate for the Federal Reserve to do that research.feedback

We'd be foolish to ignore the political landscape we are operating in.feedback

The truth is I don't know what the new administration and the new Congress are ultimately going to enact. I don't feel like I have enough information to meaningfully change our forecast on the economy until we get some more clarity on what at least those proposals look like.feedback

I'm optimistic that if Congress now says we are going to take a fresh look at bank regulation, we are going to take a fresh look at Dodd Frank, there may be a real opportunity to weigh in and say, let's be much more aggressive on capital requirements.feedback

I'm experimenting on a lot of different fronts, specifically because of the kind of public pressure that we're under.feedback

Trust me, I've had my share of critics, but I don't block people.feedback

I'm not looking for a new job. I got to Minneapolis less than a year ago. Very happy there.feedback

That would be good if it actually came true. It would make our jobs a heck of a lot easier. But we need to wait and see.feedback

I think if most Americans knew that they'd say that's ridiculous. That's much too high.feedback

The markets are speculating about what they think the new Congress and the new president are going to do. And that, so far, seems to be helping the Fed, boosting inflation expectations a little bit.feedback

I believe the biggest banks are still TBTF and continue to pose a significant, ongoing risk to our economy.feedback

My view is let's let the economy keep creating jobs, bringing workers off the sidelines so long as it's not creating inflation.feedback

Growth since the Great Recession has been steady but stubbornly slow, leaving output well below expectations (and has) contributed to exacerbating the persistent and wide gaps in income among our country's racial and ethnic groups.feedback

Believe still slack in labor mkt. Want to see headline unemploy rate come down as sign fewer people coming off sideline. Don't see it yet.feedback

Official position is it is a target not ceiling. I wonder some times. Some policy recommendations seem to imply otherwise.feedback

Risks are asymmetric. Worry more about too quickly.feedback

Demographics is not a monetary policy problem. We are not going to solve demographic problems with low interest rates.feedback

Monetary policy is largely doing what it can to support a robust recovery, and what remains are fiscal and regulatory policies.feedback

Another promising policy is immigration reform, especially for high-skilled workers.feedback

I am skeptical that a large-scale expansion of government spending by itself is the best way forward, since larger fiscal deficits will lead to higher expected future taxes, which could further undermine private sector confidence.feedback

The key driver for us is, how do we put as many people back to work as possible while preventing the economy from overheating.feedback

My outlook is for continued moderate economic growth [and] inflation gradually returning to our 2 percent target.feedback

More capital has downsides that need further exploration. In particular, higher capital could raise the cost of lending and potentially reduce economic activity.feedback

That's a good thing and we should let that process continue while inflation is running below our target.feedback

My view is, let's put people back to work as long as we have room on inflation.feedback

I challenge anybody who thinks, in a stressed time, we would put these banks through resolution. I really don't think it will happen.feedback

I don't see this as a partisan issue. I do think there are people on both sides of the aisle who care about this issue and think we should take stronger action. It wasn't a political statement. It was a statement about economic risks.feedback

I think that they are surprised and I expect them to push back pretty hard.feedback

I'm not shy about expressing my opinions. But I also think that having chatter for the sake of having chatter is not necessarily a good thing.feedback

I've never met Senator Sanders and I don't know him and I've never spoken to him. This is not about politics. If we can demonstrate to the American people that there is a diversity of views within the (Fed) and people are outspoken, what better way to demonstrate that we are not political or beholden to the (White House) or any political party. I think this shows more independence.feedback

It's also economic conditions around the world [that] are causing interest rates to be low and necessitating low interest rates.feedback

I don't think that's an answer people are going to find acceptable. So now is the time to consider a more transformational solution.feedback

If other countries want to take huge risks with their financial systems, we can't stop them.feedback

The banks are stronger. They have more capital, deeper sources of liquidity. Progress has been made, but if we have a stressed economic environment and multiple banks are in trouble at the same time, the government is going to have to step in and bail them out.feedback

We are in somewhat of a pickle. We all want to get inflation creeping back.feedback

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