Minneapolis Fed President Neel Kashkari said he has penciled in seven 25bps rate hike this year as “we need to adjust” monetary policy. “The data just keeps coming in in that direction, and we just have to respond,” referring to skyrocketing inflation.
However, he warned that “there’s a danger to overdoing it”. Supply bottlenecks could be fixed faster than expected, or labors could return in big numbers. He added, “we’re going to get information”.