Minneapolis Federal Reserve Bank president Neel Kashkari stated on Monday that he believes the U.S. economy is in the final stages of getting inflation back to 2%. The official also said that the U.S. labour market remains strong, noting that the recent data shows the jobs market isn't weakening rapidly.
In addition, Kashkari expressed the view that the Fed's current policy stance is restrictive but added that it is unclear how restrictive it is. He also suggested that further modest rate reductions by the Fed appear appropriate but stressed that the future path of monetary policy will be driven by the actual economic, inflation and labour market data.