Federal Reserve Bank of Minneapolis President Neel Kashkari (pictured) said the central bank can relax hikes of its benchmark interest rate when it becomes evident that inflation is heading toward 2%.
"With inflation at or over 8%, we don't want inflation expectations to become unanchored," he said, adding that the Fed doesn't want to cut off recovery prematurely which is in line with the bank's goal to, not only restart the economy but also avoid potentially taking back all the progress that was made so far.
