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Kansas City Fed Meadows.  Esther George will retire in January 2023

Kansas City Fed President. Esther George (2022 voting member) is due to retire in January 2023. The search for a new Kansas City Fed Pres. has begun.

  • Further production delays and war-related lockdowns could raise inflation and mean more Fed intervention
  • China’s war or lockdowns, on the other hand, could slow growth and reduce inflation
  • The pandemic may have irreversibly damaged the productive potential of the economy
  • I expect the Fed rate to be around 2% by August

  • Evidence that inflation is clearly decelerating will inform judgments on further tightening

  • Inflation is too high and too broad to ignore; bringing it back to the Fed’s 2% target is the ‘top priority’

  • The household savings surplus is a crucial wildcard for forecasting demand

  • Given how hard it is to be a central banker these days, it’s no wonder she seems so angry/serious.

    Here is a photo of her in retirement.

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