Reported 4 months ago
Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, stated that U.S. consumers strongly dislike high inflation to the extent that they would rather experience a recession than see further price increases. Despite financial expectations for rate cuts, Kashkari does not foresee this happening soon due to the public's aversion to inflation. He emphasized that Americans, particularly those with lower incomes, would choose a recession over continued inflation, highlighting a unique perspective on economic preferences.
Source: YAHOO