Fed's Kashkari (2026 Voter) says the job market is clearly cooling and inflation is still too high, via CNBC TV

Neutral Rate:

• "My guess is that we are close to neutral at the moment".

Jobs:

• There is a risk that the unemployment rate can pop from here.
• Wage growth is slowly trending down.
• My expectation is low hiring and low firing.

Inflation:

• Has a lot of confidence that housing services inflation is coming down.
• Lower-to-middle income anxiety is regarding inflation.

Economy:

• Expect the economy to remain resilient.
• A K-shaped economy still seems to ring true in his district.
• Thinks American households are in a better position vs 20 years ago.
• Not seeing the effect of Venezuela, risk mostly through oil prices.

Trade:

• On the tariff front, are approaching a kind of equilibrium.
• Notes of create new uncertainty, if the Supreme Court rules against the administration of tariffs.

Fed Independence:

• Not concerned about the risk of Fed Bank Presidents being fired.
• Does not agree with US Treasury Secretary Besssent, that Bank Presidents do not represent their districts well.

AI:

• AI is a big company story, from what he hears, adding that it is not a big issues for smaller companies.