Federal Reserve Bank of Minneapolis President Neel Kashkari said he is still not convinced that interest rate hikes have come to an end, adding that he believes that overtightening monetary policy would bring inflation under control and closer to the target level.
"Undertightening will not get us back to 2% in a reasonable time," Kashkari noted in an interview with The Wall Street Journal. In addition, he said his concern is that some indicators show that inflation could start to move up again, although the US economy proved its resilience.
Last week, the Fed decided to keep the key interest rate unchanged for the second consecutive time.
