Kashkari is at the very dovish end of a dovish FOMC spectrum. Even he is looking for higher rates soon:

  • "I brought forward two rate increases into 2022 because inflation has been higher and more persistent than I had expected"
  • supports a quicker taper

Kashkari is data-dependent though:

  • "If the macroeconomic forces that kept advanced economies in a low-inflation regime are ultimately going to reassert themselves, the challenge for the FOMC will be to recognize this as soon as possible so we can avoid needlessly slowing the recovery, while at the same time protecting against the risk of entering a new, high-inflation regime"
Minneapolis Federal Reserve Bank President Neel Kashkari