• I am more cautious than markets on rate path
  • Especially when there is still strong wage growth and other indicators
  • Housing market is starting to show signs of life again, makes our job harder
  • It means we would have to do more with our other tools

The dollar is gaining on his remarks with EUR/USD and GBP/USD at the lows for the day, around 1.0698 and 1.1972 respectively. Kashkari is a voting FOMC member this year, so these remarks are somewhat notable. It seems like the lack of impact from rate hikes on the jobs market is making Kashkari stick to his view that they still need to stay on the current path.