UBS On-Air: Paul Donovan Daily Audio 'policy-politics-and-prices'
UBS On-Air: Market Moves · Podcast owner
June 3, 20242m 36s
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Show Notes
Federal Reserve President Kashkari has advocated a significant tightening of central bank policy, by raising real interest rates (keeping nominal rates stable as inflation slows). The pain of this would likely hit lower income groups disproportionately. Kashkari’s wants to keep inflation expectations anchored—yet inflation expectations are properly observed through consumers’ actions (certainly not through surveys). Moderating wage growth suggests well-anchored expectations.