Fed's Kashkari: Nobody should overreact to one report

• Not changing my forecast for rates for now
• Still sees rate path moving towards around 5.40%
• Wishes to see more evidence that underlying inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term was trending down more
• Services side of the economy is still very robust
• Hard to imagine strong jobs growth can occur with wage growth moderating
• We haven't done enough to bring the labour market into balance

We shall see if Powell builds on this to also comment on the hot US jobs report from Friday last week. Essentially, Kashkari is saying that nothing has changed with regards to his outlook on the economy and rate path. Despite saying that "nobody should overreact to one report", he is stating that they "haven't made enough progress to declare victory".