Fed's Kashkari: It's Time to 'Start Slowly Moving' Rates Higher

Dow Jones08-05 21:14

Minneapolis Federal Reserve President Neel Kashkari said he believes it is time to "start slowly moving" interest rates higher to help bring down inflation to the Fed's 2% target.

During an interview on CNBC, the central bank official said he isn't calling for a dramatic increase in rates, adding: "I don't see evidence monetary policy is marginally restrictive right now, and I think we have more work to do to get inflation back down."

Kashkari was one of three Fed policymakers last week to dissent and vote for higher rates, along with Dallas Fed President Lorie Logan and Cleveland Fed President Beth Hammack.

When asked about his preference on lowering the number of Fed meetings to six a year, Kashkari said he was "open minded" and didn't have a strong view.

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