Federal Reserve Bank of Minneapolis President Neel Kashkari reiterated Thursday his view that the U.S. central bank raised rates too early in the expansion and has caused inflation to be lower than it might have been, and engineered what was likely too slow a recovery in the job market. “Monetary policy has been too tight in this recovery” with unfortunate economic results, and this “directly saps the Fed’s ability to respond to a future downturn,” Mr. Kashkari said in the text of a speech to be presented in Santa Barbara,...

Source: Wall Street Journal May 16, 2019 16:07 UTC