Fed has few tools to fight too-low inflation, Kashkari says

September 12, 2016 1:58 PM EDT

Minneapolis Fed President Neel Kashkari speaks during an interview at Reuters in New York February 17, 2016. REUTERS/Brendan McDermid

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(Reuters) - The Federal Reserve has "perfect tools" for fighting too-high inflation, but it has few tools to fight the too-low inflation that has persisted for the past several years, a top Fed official said on Monday.

Low inflation means there is no pressure to raise interest rates aggressively, Minneapolis Fed President Neel Kashkari said at an event in St. Paul and broadcast live on the bank's website.

(Reporting by Ann Saphir; Editing by Chris Reese)

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