Fed Official Says Central Bank ‘Needs to Raise Rates Aggressively to Put a Ceiling on Inflation’

President of the Federal Reserve Bank of Minneapolis Neel Kashkari speaks during an interview in New York, on March 29, 2019. Shannon Stapleton/Reuters

Minneapolis Fed President Neel Kashkari said on Feb. 7 that the central bank will need to keep aggressively raising interest rates, pointing to a stronger-than-expected jobs report in January.

Kashkari told CNBC’s “Squawk Box” that the Bureau of Labor Statistics (BLS) report published on Feb. 3 (pdf) shows that the Federal Reserve’s aggressive monetary tightening policies over the past year have not yet had much of an impact on the labor market.