Neel Kashkari, Interview: WSJ Live

“The one mistake that I am acutely aware of that I want to avoid repeating from the 1970s is when policymakers saw the economy weakening, saw inflation start to tick down, and then they cut rates thinking they had done the job, and then inflation flared back up again. That is a mistake I believe we cannot make and we will not make and that means we need to get policy to a stance where we’re clearly tightening the economy and then we need to be patient and allow inflation to come back down towards our 2% target.”