Fed’s Kashkari: Inflation is not wage-driven

• US economy is sending wildly mixed signals
• This inflation is from demand, not constrained supply
• We are united in commitment to getting inflation to 2%
• There is a lot of tightening in the pipeline
• Fed’s job is to keep inflation in check

We’ve heard from Kashkari and Bullard today. Those two are on opposite ends of the hawk/dove spectrum and there isn’t much daylight between them. Kashkari is a voter next year.