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Media coverage of the Fed reminds Neel Kashkari of the ‘Summer of the Shark’

The Fed is experiencing its own version of the ‘Summer of the Shark.’

Recent media coverage of the Federal Reserve is reminiscent of the “Summer of the Shark,” meaning there’s a lot more hype than fact, Minneapolis Fed President Neel Kashkari said on Monday.

Kashkari was referring to a phenomenon, seen in 2001, when sharks seemed to be biting people almost every day as television crews camped out at beaches. There was a lot of soul-searching about the cause. Time Magazine labeled it the “Summer of the Shark.”

Only in hindsight...


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