(Reuters] – Neel Kashkari of the Minneapolis Federal Reserve Bank stated on Sunday that he expected higher inflation in the next few months, but cautioned the U.S. central banking not to react excessively to this temporary increase.

Kashkari said in an interview that the math suggested we would see slightly higher readings during the coming months, before the taper likely starts to occur.

Kashkari stated in an interview that “But I believe we also need not overreact some of these temporarily factors, even though it is real pain.”

Kashkari said Tuesday that he expected more clarity about the economy’s outlook when the Fed stops its bond-buying program mid-2022 and is still open to considering the timing for any future rate increases.

On Sunday, President Joe Biden’s economic advisors supported his actions amid rising inflation. They said that this was an issue global to COVID-19 and not due to Obama’s policies.

Last week, the U.S. Consumer Prices posted its largest annual increase in 31 years. This was due to increases in gasoline prices and other commodities.