Transcript: Neel Kashkari, Minneapolis Fed president and CEO, on "Face the Nation with Margaret Brennan," Aug. 23, 2026
Updated on: August 23, 2026 / 2:52 PM EDT / CBS News
TL;DR
- US national debt has reached $40 trillion, but Treasury yields, while high, are not at historically extreme levels.
- The Federal Reserve is focused on bringing inflation down to 2%, while fiscal policy to manage debt is the responsibility of the Treasury and Congress.
- Kashkari expressed concern that persistent inflation and geopolitical events like the conflict in the Middle East could delay the return of inflation to the Fed's target.
- Trade tensions with Canada and other supply shocks can prolong inflationary pressures.
- The US Treasury market is functioning properly, allowing the Fed to focus on its primary policy tool, the federal funds rate.