Minneapolis Federal Reserve president Neel Kashkari said on Tuesday that he is not changing his forecast for rates for now. The official noted he still sees the Fed's rate path moving towards around 5.4%. Kashkari added that he wishes to see more evidence that underlying inflation was trending down more.
Also, the policymaker noted that it is hard to imagine strong jobs growth can occur with wage growth moderating. "We haven't done enough to bring the labor market into balance," he added.