Fed’s Kashkari: ‘I want to see the wage growth’

(Reuters) – The Federal Reserve should hold off on raising interest rates until wages and inflation grow more strongly, a U.S. central banker known for his dovish views on monetary policy said on Wednesday.

“I want to see the wage growth,” Minneapolis Federal Reserve President Neel Kashkari said at an event on the roots of slow wage growth at the Hamilton Project in Washington. A tight labor market is encouraging employers to hire workers whom they might not otherwise have considered, including some with drug problems or criminal records, and the Fed should allow that process to “continue to run,” Kashkari said.

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