Employment Inflation: Neel Kashkari and Job Market

employment inflation: The Fed's key short-term rate is rising by a quarter-point to a still-low range of 0.75 percent to 1 percent, according to The Japan Times. The central bank said in a statement that a strengthening job market and rising prices had moved it closer to its targets for employment and inflation. The move reflects a consistently solid U.S. economy and will likely mean higher rates on some consumer and business loans. The message the Fed sent Wednesday is that nearly eight years after the Great Recession ended, the economy no longer needs the support of ultra-low borrowing rates and is healthy enough to withstand steadily tighter credit. Neel Kashkari, president of the Fed's regional bank in Minneapolis, was the dissenting vote. The decision, issued after the Fed's latest policy meeting ended, was approved 9-1. (news.financializer.com). As reported in the news.