Federal Reserve's Neel Kashkari: said while he is happier to see inflation surprised to downside, the Fed is far far far away from declaring victory on inflation. He added that ''this doesn't change my rate hike path'', and he is expecting 3.9% end of this year 4.4% end of next year.

The idea of rate cutting next year is not realistic. he said the Fed will raise rates and leave until inflation is well on its way to 2%. 

More to come...