Gerstner cites Kashkari's June 2021 forecast of no rate hikes until 2024 as evidence of Fed miscalculation.
“He says we're not gonna have rate hikes until 2024. That's how wrong the Fed's forecast was in June 2021 because they were making the argument that inflation was transient.”
Gerstner says Kashkari wrongly forecast no rate hikes until 2024 in June 2021 when cargo container costs had risen 10x.
“June 2021, when the world knew inflation was here. I mean, the cost of a cargo container had gone up by 10 x. Okay? He says we're not gonna have rate hikes until 2024.”