Fed's Kashkari: Job market not a source of inflation now

Minneapolis Federal ​Reserve President Neel Kashkari ​on Thursday ‌said the ​job market is not a key driver of ‌the inflation the US central bank is seeking to lower, and labor market pain is ‌not needed to achieve that goal. "I ‌don't think it's necessary because the ... labor market is not the primary source of inflation today, ⁠so ​I ⁠don't think it's necessary," Kashkari told Bloomberg Television in ⁠response to a question on whether he agreed ​with a Fed colleague who does worry ⁠that higher interest rates could result in higher unemployment.

"But ⁠I ​don't want to rule it out. We have a dual mandate. One ⁠side of our mandate looks quite good ⁠right ⁠now. One side of our mandate's been missing (target) for five years."