Fed's Kashkari: I feel good about progress on inflation but it's still too high

<p>Kashkari is participating in a moderated Q&amp;A followed by an audience Q&amp;A. I'll update the headlines as they roll in.</p><ul><li>We have been surprised by the economy's resilience</li><li>Question is whether we have done enough or need to do more</li><li>On average the banking system is stable and well capitalized</li><li>The March banking event was a wake-up call for banks</li><li>Housing market resilient has been one of the biggest surprises</li><li>We underbuilt in housing and there's a structural deficit</li><li>The last couple inflation readings have been positive</li><li>I want to see convincing evidence that inflation is on its way to 2%</li><li>We need to avoid 1970s style outcome where we stop hiking too soon</li><li>We're a long way from cutting rates because core is still close to 4%</li><li>At some point next year the Fed may need to lower rates</li><li>Economy keeps exceeding expectations</li><li>I'm not seeing any signs of a crisis in China, it's something we're watching</li></ul><p>Kashkari went on a bit of a rant about land use and zoning as a problem that's holding back home construction and making homes unaffordable.</p>

This article was written by Adam Button at www.forexlive.com.