Fed's Kashkari: Fed's rate hikes may be causing ‘real harm’ to US economy

Minneapolis Federal Reserve Bank President Neel Kashkari gave his remarks at the University of Minnesota's business school, with the key quotes, via Reuters, found below:

• There may be a lot more slack in the labor market than the Fed appreciates
• Fed may be allowing inflation expectations to slip
• Maybe Fed's rate hikes are doing real harm to the US economy
• Fed's premature rate hikes are not free in terms of inflation, job growth
• Rational immigration policy that meets needs of economy makes a world of sense
• A stock market correction has less chance of triggering a crisis than a housing crash