According to Bloomberg, The Federal Reserve can’t pause its campaign of monetary policy tightening once its benchmark interest rate reaches 4.5% to 4.75% if “underlying” inflation is still accelerating, Minneapolis Fed President Neel Kashkari said. “Core services inflation -- which is the stickiest of all -- keeps climbing, and we keep getting surprised on the upside,” Kashkari said Tuesday during a panel discussion hosted by the Women Corporate Directors Minnesota Chapter. “If we don’t see progress in underlying inflation, or core inflation, I don’t see why I would advocate stopping at 4.5, or 4.75, or something like that.” He emphasized that Fed officials “need to bring demand down” to fight inflation, though he also argued that inflationary pressures aren’t being driven primarily by a tight labor market. “This inflation didn’t come from the labor market. This inflation came from supply chains and energy and commodities,” Kashkari said.