Fed's Kashkari on why he dissented last week

Kashkari worried about inflation

Kashkari is succinct in his analysis on why he dissented last week. He said that since he first dissented at the start of this year, inflation has fallen further. In addition, he's now worried about the yield curve.

As for the reasons for the lag in inflation: "The two most likely explanations are that the job market is not as tight as the 4.1 percent unemployment rate suggests and that people's expectations for future inflation have fallen," he writes.