If lockdowns in China aimed at containing COVID-19 cause further disruptions to global supply chains, the Federal Reserve will need to take even more aggressive action to bring down “much too high” inflation, Minneapolis Fed President Neel Kashkari said on Tuesday.
Speaking at an event at Luther College in Decorah, Iowa, Kashkari said in the best case scenario, the pandemic fades into the background, supply chains recover and more supply comes back online.
