Federal reserve voting member Kashkari is making the case that interest rates should not yet rise due to inflationary concerns.

He said that inflation has a lot of room to rise to the Fed’s target, and it can even rise a little above 2 percent without creating worries about an overheated economy.

CNBC Reports:

The widely anticipated Fed hike last week, only the third in nearly 11 years, took the overnight fed funds rate to a target range of 0.75 percent to 1 percent. The move represents the first of what central bankers see as a total of three rate increases for 2017, a projection that did not change after last week’s meeting.

The Fed has amassed a balance sheet of $4.5 trillion through several rounds of quantitative easing bond-buying and other accomodative moves aimed at boosting the economy in the aftermath of the 2008 financial crisis.