Federal Reserve Bank of Minneapolis President Neel Kashkari on Monday became the latest central bank official to push back against the idea that the trading frenzy in GameStop Corp. and other hot stocks calls for a monetary policy response.
Bloomberg News
“GameStop has gotten a lot of attention. If one group of speculators wants to have a battle of wills with another group of speculators over an individual stock, God bless them,” Kashkari said while answering questions during a virtual town hall event.
“That’s for them to do, and if they make money, fine. And if they lose money, that’s on them,” he said. “I’m not at all thinking about modifying my views on monetary policy because of speculators in these individual stocks.”
