Minneapolis Fed President Neel Kashkari said yesterday, “there’s not yet much evidence, in my judgment, that the rate hikes that we’ve done so far are having much effect on the labor market.”
“We need to bring the labor market into balance so that tells me we need to do more,” he added.
He noted that Fed will likely need to raise interest rates to around 5.4% in order to bring inflation down to the 2% target.
