3reels| Federal Reserve Official Kashkari: It is too early to conclude that the process of reducing inflation has stalled
Minneapolis Federal Reserve Bank President Neel Kashkari said3reelsMore data is needed to know whether the process of bringing inflation back to the 2% target has stalled.
"It is a bit premature to say that there must be a standstill," Kashkari said.
"We are in a good position now3reelsThe labor market remains strong, and we can take a moment to get more data to see if the decline in inflation will continue. If it is, that's great; if not, then we need to consider this."
Kashkari said there are areas of the economy that are slow to respond to monetary policy, such as housing.
Kashkari told the Milken Institute global conference earlier on Tuesday that the Fed may keep interest rates at current levels for an "extended period of time" until officials are confident inflation is moving towards target levels.
