Neel Kashkari
ON THE RECORD · 5 verbatim quotes · every quote source-verified
“The fruits have not yet borne out,”
Neel Kashkari · said 2026-09-30 · reported 2026-09-30
Kashkari expressed concern that corporate AI investment may not yield the intended productivity gains.
“It's been elevated now for more than five years. I didn't think the inflation data today really changed that story for me very much.”
Neel Kashkari · said 2026-09-30 · reported 2026-09-30
Kashkari said the inflation data released that day did not significantly change the overall story for him.
“Inflation is still too high,”
Neel Kashkari · said 2026-09-30 · reported 2026-09-30
Kashkari said price growth remained a concern despite the latest PCE data coming in cooler than economists predicted.
“If this ends up being massive investment that is not nearly as productivity enhancing as we assume, then this will have been malinvestment, and then there could be big economic consequences for the economy writ large.”
Neel Kashkari · said 2026-09-30 · reported 2026-09-30
Kashkari warned that if AI investment does not enhance productivity as assumed, it could constitute malinvestment with major economic consequences.
“There are many different measures of inflation, but it's running at around a 3% rate,”
Neel Kashkari · said 2026-09-30 · reported 2026-09-30
Kashkari noted that despite many different inflation measures, inflation is running at around a 3% rate.