Fed's Kashkari (2026 Voter) says the economy is confusing and job market is showing signs of weakness; inflation is still too high but moving in the right way

Overall, the economy seems quite resilient.
Economy has not slowed as much as expected, describes it as K-shaped.
Wonders how tight monetary policy actually is.
Has seen less tariff pass through than expected.
Tariffs haven't been gut punch many feared, but long term story still playing out.
2% inflation remains target, remains committed to getting that level.
Does not expect inflation to surge again.
Current Fed balance sheet expansion is not QE.
Sees pretty good growth, does not see need for Fed QE.
Biggest barrier to housing market is supply.
Declines to comment on Trump administration buying mortgage bonds.
Job and inflation goals are in tension.
Welcomes recent decline in unemployment rate.
Is not sure what the current breakeven rate is for the job market.
Will take a few more months for government data to recover from the shutdown impact.
Feels pretty confident job market is moving sideways and inflation is easing.
Households have pretty good balance sheets.
Inflation has been the main driver thus far of financial distress.
Hasn't seen anything very alarming in consumer borrowing yet.