Fed’s Kashkari: Fed should not move too quickly to raise rates

The Minneapolis Fed President Neel Kashkari, in an Op-Ed piece published in the Financial Times, said that the Fed should not move too quickly to raise rates. 

Key quotes:

   •  Despite recovery in the US labour market, we need more evidence that wages are rising.
   •  Total pay is only growing at 2.7% annually, compared to 3.5% before the crisis.
   •  Inflation has now finally reached the FOMC’s target of 2%, after consistently undershooting for the past six years.