Fed's Kashkari: Fed should have waited to raise rates until inflation strengthened

Minneapolis Federal Reserve President Neel Kashkari crossed the wires, via Reuters, arguing that the Fed should have waited to raise rates until inflation strengthened.

Key quotes:

• Weakening inflation, despite tight labor market, caused him to dissent on rate hike decision
• Risk of not raising rates soon enough 'doesn't appear to be large'
• Fed may be erroneously forecasting increase in inflation
• Monetary policy is only somewhat accommodative
• Would have liked for Fed to announce a start date for trimming balance sheet