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The Minneapolis Fed president dissented at last week's FOMC meeting and wants small, incremental increases rather than waiting and risking entrenched inflation
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Minneapolis Federal Reserve President Neel Kashkari said Wednesday that the central bank should begin raising interest rates, arguing that waiting risks a more severe tightening cycle later.
Kashkari, speaking in a live interview on CNBC's "Squawk Box" from the Aspen Ideas Festival in Colorado, said he favors a gradual approach that could begin as early as September. "I'm simply saying I don't see evidence of monetary policy [being] marginally restrictive right now, and I think we have more work to do to get inflation back down. And I would rather get going now in small steps than wait till later, then we have a really entrenched inflation problem and have to raise rates aggressively," he said.
