Fed's Kashkari: Economy strong, but inflation not vanquished

Federal Reserve Bank of Minneapolis President Neel Kashkari said the US economy has remained remarkably strong as the Fed progressed in beating back inflation, but the US central bank was still "not all the way home," per Bloomberg. 

Key quotes

The economy has remained remarkably strong, not all the way home on inflation.

The Fed wants to have confidence inflation will go all the way back to 2%; need to see more evidence before deciding on another cut.

If businesses lose employees due to deportations, it could disrupt them.

It will be between the business community and Congress on how to adjust to deportations; there is still uncertainty about what the policy will be.

The Fed will have to wait and see what is decided on immigration.

At some point, federal debt and deficits will have to be addressed.

A one-time tariff would increase the prices of goods but would not create persistent inflation unless other countries respond.

Businesses and labor are expressing cautious optimism about the economy.

Not concerned about political influence on the Fed; officials are focused on mandated goals.

Market reaction

The US Dollar Index (DXY) is trading 0.04% higher on the day at 104.98, as of writing.