Federal Reserve President Neel Kashkari is speaking on the state of the economy, trade and labor markets before the Williston Basin Petroleum Conference in Bismark, North Dakota on Wednesday.

Kashkari's comments came as investors digested the latest meeting minutes from the Fed's policymaking committee. Currently a non-voting Fed member, Kashkari has historically been dovish when considering hikes to the federal funds rate.

Following the May meeting, the policymaking Federal Open Market Committee said it wasn't raising rates yet but added the word "symmetric" to describe its inflation goal. Until now, market participants have debated what that language meant.

Though the general tone was that inflation would continue to rise, there was disagreement over how confident the Fed should be after undershooting its 2 percent target for so long.

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