Minneapolis Fed president, Neel Kashkari, spoke in an interview on US TV on Sunday, CBS.
Kashkari said the Federal Reserve should not overreact to what are temporary CPI increases:
- The high prices that families are paying, those are real and people are experiencing that pain right now
- We need to take it very seriously, but my view is we also need to not overreact to some of these temporary factors even though the pain is real
The latest inflation data sure is hit: