Investing.com -- The bar for the Federal Reserve to lift rates may be "high," but isn't completely off the table as the slew of recent economic data is muddying the outlook on whether the current level of rates is high enough to rein in inflation, Minneapolis Fed President Neel Kashkari said in a CNBC interview Friday.
There is a "high bar" for another rate hike if inflation data stall, Kashkari said, though didn't rule out the possibility should the trend of slowing inflation slow.
The remarks arrived on the heels of data showing that jitters about inflation are on the rise.
One-year inflation climbed to 3.5%, up from 0.4% a month ago, The University of Michigan Survey of Consumers data released Friday.
Still, the overarching narrative from the Minneapolis Fed chief is one of patient, preferring to wait for more data before coming to a conclusion on whether policy is restrictive enough.
“I’m in a wait and see mode” Kashkari said in a CNBC interview, referring to the current level of rates, though added that the default option is to sit and wait for an extended period of time