Kansas City Fed Pres. Esther George to retire in January 2023

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

Further war-related production delays and lockdowns could raise inflation and mean more Fed intervention

War, or China lockdowns, on the other hand, might slow growth and trim inflation

The pandemic may have harmed irreversibly the productive potential of the economy

I expect the Fed’s policy rate to be in the neighborhood of 2% by August

Evidence inflation is clearly decelerating will inform judgments about further tightening

Inflation is too high and too broad to dismiss; returning it to the Fed’s 2% target goal is ‘top priority’

Surplus household savings are a crucial wildcard for the demand forecast

Given the difficulty of being a central banker these days, it is no wonder she seems so angry/serious.

Here is a picture of her in retirement.