Last quote by Neel Kashkari
Neel Kashkari quotes
We'd be foolish to ignore the political landscape we are operating in.
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.
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.
That's a tough thing to achieve.
I'm experimenting on a lot of different fronts, specifically because of the kind of public pressure that we're under.
Trust me, I've had my share of critics, but I don't block people.
I'm not looking for a new job. I got to Minneapolis less than a year ago. Very happy there.
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.
I think if most Americans knew that they'd say that's ridiculous. That's much too high.
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.
I believe the biggest banks are still TBTF and continue to pose a significant, ongoing risk to our economy.
My view is let's let the economy keep creating jobs, bringing workers off the sidelines so long as it's not creating inflation.
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.
The economy still has room to run before it overheats.
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.
Official position is it is a target not ceiling. I wonder some times. Some policy recommendations seem to imply otherwise.
Risks are asymmetric. Worry more about too quickly.
Politics does not play a part.
Demographics is not a monetary policy problem. We are not going to solve demographic problems with low interest rates.
Monetary policy is largely doing what it can to support a robust recovery, and what remains are fiscal and regulatory policies.
Another promising policy is immigration reform, especially for high-skilled workers.
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.
The key driver for us is, how do we put as many people back to work as possible while preventing the economy from overheating.
My outlook is for continued moderate economic growth [and] inflation gradually returning to our 2 percent target.
More capital has downsides that need further exploration. In particular, higher capital could raise the cost of lending and potentially reduce economic activity.
That's a good thing and we should let that process continue while inflation is running below our target.
My view is, let's put people back to work as long as we have room on inflation.
I challenge anybody who thinks, in a stressed time, we would put these banks through resolution. I really don't think it will happen.
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.
I think that they are surprised and I expect them to push back pretty hard.
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.
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.
It's also economic conditions around the world [that] are causing interest rates to be low and necessitating low interest rates.
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.
If other countries want to take huge risks with their financial systems, we can't stop them.
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.
We are in somewhat of a pickle. We all want to get inflation creeping back.