Fed president says that Americans have such a ‘visceral’ hatred of inflation, they’d rather have a recession than rising prices
U.S. consumers are so fed up with rising prices they would rather see the economy shrink than watch their costs get any higher, according to Neel Kashkari, president of the Federal Reserve Bank of Minneapolis.
As a result Kashkari, who has led the organization since January 2016, had some bad news for Wall Street: He doesn’t believe a cut is coming any time soon.
Financiers have been waiting for Jerome Powell to confirm when rates will begin to fall from a more than two-decade high.
Many previou...
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