Minneapolis Federal Reserve Bank President Neel Kashkari reassured markets Monday night, reaffirming the Fed’s data-dependent stance and reiterating common ground among Fed policymakers. Fed on the health of the US economy, including continued easing inflationary pressures and a still healthy labor market despite a short-term rise in the overall unemployment rate.
Highlights
Progress in inflation, labor market remains strong.
Rising unemployment is not worth the cost.
It is not worth increasing the unemployment rate.
China is not a significant competitor for the US.
There is no concern that the yuan will replace the dollar as the global reserve currency.
US competitiveness is robust but cannot be taken for granted.
The reduction in labor demand could lead to an increase in unemployment.
Bitcoin is still useless after twelve years.
Kashkari sees potential for generative artificial intelligence after two years.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
