Fed Will Do All It Takes to Tame Inflation: Kashkari

Minneapolis Fed president says he hopes they have to do less as recession fears grow

Minneapolis Federal Reserve president Neel Kashkari speaks at the National Press Club in Washington, on Dec. 8, 2008. Chip Somodevilla/Getty Images

Minneapolis Fed President Neel Kashkari said on Friday that the Federal Reserve will do all it takes to tame surging prices but that he hopes monetary policy screws won’t have to be tightened all that much, with his remarks coming amid mounting recession fears and concerns that aggressive rate hikes might tip the economy into a slowdown.

Kashkari made the remarks on May 13 during a virtual conference co-hosted by the Federal Reserve Banks of Dallas and Minneapolis on the topic of energy and inflation.