Kashkari on twitter

Comment from Kashkari:

"I recently realized a danger in declaring we are at max employment (I find myself doing this too): Every time we think we are there, and then the economy creates a lot of jobs and lures people back in, we then think: well now we REALLY MUST be at max employment.

So we repeat the same mistake over and over, but with increasing conviction that we are finally right.

So what do we do? Stop trying to assess whether we are at max employment by looking at the unemployment rate and EPOP. We will know it when wage growth sustainably picks up to levels that, considering productivity, imply future inflation at or above our 2 percent target."

Kashkari and Bullard are lone dovish voices in the Fed wilderness. Bullard gets a vote this year but Kashkari has to wait another year.