This page has been archived and commenting is disabled.
What The Newest Member Of The FOMC Really Thinks About The Fed's Policies
With the appointment of Neel Kashkari as Minneapolis Fed president, and little to no detail on his policy persepctive, we found the former Goldman banker and bailout boss's Twitter feed provided considerable color...
Starting out, he is "for" fed Independence (though one wonders how he reconciles working for Goldman, then the Treasury, then PIMCO and then the Fed as being anything remotely "independent")...
@lv_1 I think it's better if the Fed sets mon. policy independently than trying to satisfy the whims of politicians.
— Neel Kashkari (@neelkashkari) July 30, 2013
Remarkable to see @nytimes weigh in on Fed chair selection. Making Fed less political should be the goal. http://t.co/rihbTjgHA6
— Neel Kashkari (@neelkashkari) July 30, 2013
But is the first to admit The Fed is entirely political...
In other words, give me Syria and you get Yellen. Don't and you get Summers. @tackettdc @josephlawler
— Neel Kashkari (@neelkashkari) September 6, 2013
And then defends The Fed's policies - with some actual common-sense...
I think they are trying to do what they can for unemployment. But problems are bad fiscal policy, which monetary policy can't help.
Clearly has some real-world perspective on just how it all works...
Insider trading doesn't require new laws of physics, just one bad actor. How many people knew the Fed's decision before 2pm? dozens?
— Neel Kashkari (@neelkashkari) September 24, 2013
Then some specific on policies...
Sorry Japan, printing money is morphine. makes u feel better but doesn't cure. BOJ Unveils Bold Bid to End Deflation http://t.co/9G9mnAOdOq
— Neel Kashkari (@neelkashkari) April 5, 2013
And then demolishes the mainstream narrative of falling unemployment rates...
Falling labor force particip makes the headline rate meaningless. “@AEI: Is the real US unemploy rate 11.3% or 7.5%? http://t.co/RZRVkB5Nlt”
— Neel Kashkari (@neelkashkari) May 10, 2013
But then goes a little deeper into the policy consequences - with a rather shocking admission that we are sure Ms. Yellen will not like...
Does @NYTimeskrugman realize that had the Fed been much more aggressive as he wanted, inequality would be worse? http://t.co/KBLH1N8G2O
— Neel Kashkari (@neelkashkari) September 13, 2013
And then finally, perhaps most crucially given the current box in which The Fed has placed itself...
Maybe Fed should just admit: "We will keep rates at zero until inflation is staring us in the face (and then we will freak out)."
— Neel Kashkari (@neelkashkari) March 19, 2014
Market's response to the jobs report shows the tough spot the Fed is in. Patients get upset when the morphine ends. http://t.co/hokDzP1jbQ
— Neel Kashkari (@neelkashkari) July 5, 2013
* * *
Finally, we note that in 2017, 4 of the 5 voting regional Fed presidents will be ex-Goldman... just saying.
- 239 reads
- Printer-friendly version
- Send to friend
- advertisements -


I think it is better if the Fed did not exist and "instead", there were free markets.
they will sit him down and give him "the talk". If he complies he will live, if he doesn't, he will die.
He will be suicided by an electric drill or a lawn mower. Or both. ;-)
Looney
He ran for governor of California as a "Republican", right? He often also tilts at windmills, I'd guess.
Corporate shill. His history indicates that.
He's a goy though. Can't be trusted.
I'm starting a new reality show: Keeping up with Kash n' Kari.
My plan is to keep the acting trend in place and only feature highly insulated, ignorant, and judgmental money launderers whose actions and statements are not only miles away from those on main street, but removed from anything remotely real.
Kneel "print" Cash-kari
Neel do you realize that if Goldman had been allowed to fail...we would have recovered years ago?
Another "owned" by the bankers and willing to do their bidding...
Sorry but Neel's comments are just hot air for the consumption of the public. Remember that Alan Greenspan wrote one of the most eloquent essays praising gold and the gold standard, but look what he did once he became Fed chairman.
he'll be playing ball soon enough and will be forced to disavow prior statements.
Or they'll just make it clear he's going to shut up, which seems almost certain to happen once you're part of the Fed anyway.
Correction: Ex-FOMC.
"We have learned that a nail gun incident has taken the life of..."
Those darn malfunctioning nail guns.
Only one solution here. Kashkari vs. Krugman. Thunderdome. I'd give my next paycheck to see that on PPV.
Oh come on! That was 2 years ago!! Does anyone look that far back?
He for sure changed his mind by now.
It is not only about the quantity of monetisation or the monetisation itself, the failure is also a function of what the monetisation has been used for and in whose pockets the tax payer money have ended up in.
The criminal gang runs the FED and they basically print for themselves. No aspect of the monetisation has gone to benefit the tax payers.
Of course, free banking and sound money is preferred, but if this guy is what his twitter feed says he is, it's a breath of fresh air.
But of course, we've been fooled before. Greenspan's essay "Gold and Economic Freedom" was an amazing treatise and highly influential for the libertarian movement. Then we got what we got from Mr. Greenspan. http://www.constitution.org/mon/greenspan_gold.htm
This guy ran TARP.
He is only different from the Krugman in that Krugman wants welfaristas to be spread throughout society so economists future roles are locked in while this guy wants GS and the TBTF to make more money.
Both want moar FIAT
I think based on his work history, his position will be the Fed should be independent of politics so it can concentrate on working with its business partners and owners.
Give everyone a 15% tax cut....I guarrentee the economy would ramp up big time.
No it wouldn't. Rich take their tax cut to the casino; poor go to Walmart and benefit the Chinese.
The poor don't pay income tax
He didn't say income tax... Besides the poor pay the highest percentage of their income on taxes because necessities make up most of their spending and they have been getting DESTROYED by the inflation tax for 40 years or so.
+1000
And their basket of consumption happens to be weighted moreso towards high inflation items than the CPI, and the wealthy have a consumption basket that is lower inflation than the CPI. It's just a tax that doesn't get measured properly...
Any of those tweets still viewable at the source?
This cunt handed out hundreds of billions to his bankster buddies. He is an enemy of humanity.
I don't think we ever know what these sociopaths "really think".
Make the Fed less political? That would solve a lot of the problem, not letting any Likud members in would corret the biggest problem.
Now that Neel is no longer on yhe outside looking in, I'm betting his views will change. Neel will kneel
They all know the score. They may very well have good intentions and sound judgement but once they get in TPTB will make it very clear; do as we say or a swift death will be the best outcome they can hope for.
Consider this. If durring your first week in office you walk in one day to find a spook there with a laptop, he shows you pictures or footage of an assassination they carried out which all official sources said was a suicide or a crazy lone gunman and he tells you this is what happens to those who go against our wishes.
What would you do? Play ball or be destroyed is what.
There is a reason Barry Soetoros improprieties quickly went away and all tangible traces wiped out via death, destruction and coverup. He played ball.
Seems like Neel is just lying to make us feel better after he was an intergral part of rescuing the crooked bankers or his consceince is really bothering him. Since they just appointed him to the FED board...I am guessing LYING!
He should stay out of expensive hotels inside the D.C. beltway, for the foreseeable future.
At what point do incarceration and expulsion become considerations?
How the hell did that guy get appointed to the Fed?
Did the fed really say this or was this an Onion Piece? lol Aything that kicks fascist Krugeman in the balls Im good with
Classic Wall Street bankster behavior. Self-interest trumps all principles, all morals, and all other people. Modern version of ancient warlords. Just employing violence of the state rather than violence of own hand. Otherwise nothing has changed.
Talk is cheap.
I doubt his influence at the Minneapolis Fed will be used to change anything substantial.