(Corrects 2nd paragraph to “March” from “January”)
MINNEAPOLIS, May 23 (Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari said Tuesday that while the U.S. economy is closer now than it was in March to full employment, he still does not know “if we are there yet,” and that the recent decline in core inflation is “concerning.”
The lone dissenter against the Fed’s decision to raise rates in March, Kashkari is one of the central bank’s most dovish policymakers. His comments on Tuesday follow similarly cautious remarks about the state of the labor market from Fed Governor Lael Brainard Monday.
“We are closer, but we don’t know how far the shore is,” Kashkari told reporters at the bank’s headquarters. (Reporting by Ann Saphir; Editing by Chizu Nomiyama)