Kashkari, a 2026 FOMC voting member and president of the Minneapolis Fed, told CNBC on Wednesday the Fed should begin gradually raising rates to reduce inflation and avoid larger hikes later. He was one of three FOMC voters last week who supported a 25bp increase. Kashkari said strong corporate profits and resilient consumer and labor conditions show no evidence that policy is meaningfully restrictive, arguing for small, incremental hikes rather than aggressive tightening if inflation becomes en

Kashkari, a 2026 FOMC voting member and president of the Minneapolis Fed, told CNBC on Wednesday the Fed should begin gradually raising rates to reduce inflation and avoid larger hikes later. He was one of three FOMC voters last week who supported a 25bp increase. Kashkari said strong corporate profits and resilient consumer and labor conditions show no evidence that policy is meaningfully restrictive, arguing for small, incremental hikes rather than aggressive tightening if inflation becomes entrenched. He said September action is uncertain and will be data-dependent. He added that Fed Chair Kevin Warsh has not pressured him, telling him to do what he thinks is right for the economy.