September 25, 2017 / 11:18 PM / 3 months ago

Fed's Kashkari: No sign inflation is about to lift off

(Reuters) - Minneapolis Fed President Neel Kashkari said on Monday that he sees no need for the U.S. Federal Reserve to raise interest rates further as he sees no evidence recent weak inflation data is set to improve.

“When I look at the economy I don’t see any signs that the economy is close to overheating,” said Kashkari, a voter on the central bank’s rate-setting committee this year, during an appearance at the University of North Dakota. “I don’t see inflation taking off so I see no need to tap the brakes.”

Kashkari has dissented against the Fed’s two interest rate increases this year and recently said they may be harming the economy.

Reporting by Lindsay Dunsmuir; Editing by Diane Craft

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