Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari argued on Thursday that it will probably take a year or two to get inflation back to 2%, per Reuters.

Key takeaways

"Wage growth might still be a bit too high to get back to 2% right now."

"US economy has proven to be remarkably resilient."

"We are getting disinflation despite remarkable economic growth."

"Some evidence of some softening around edges of the economy."

Market reaction

These comments failed to trigger a significant market reaction. At the time of press, the US Dollar Index was up 0.23% on the day at 105.45.