by Ian Hanchett
Breitbart.com
On Thursday’s broadcast of the Fox News Channel’s “Your World,” Minneapolis Federal Reserve Bank President Neel Kashkari stated that stimulus spending was “a contributor to the high inflation that we’ve seen.” And “the spending on infrastructure, the spending on new chip plants, all of that, on a margin, is inflationary.” Kashkari further stated that while it’s not clear if that spending impacts inflation at the national level, “we are a little bit at cross-purposes” with government spending.
Kashkari said, [relevant remarks begin around 2:35] “Well, the data is going to guide us, we’ve been surprised — in a concerning way — about the first three months’ inflation data this year. The second half of last year, we saw a lot of progress as inflation fell back towards our target.