Fed's balance sheet not boosting U.S. economy much -Kashkari

July 28 (Reuters) - The Federal Reserve's $4.5 trillion balance sheet is not doing a lot to boost the U.S. economy right now and trimming it gradually is the right thing to do, Minneapolis Fed President Neel Kashkari said on Friday.

The U.S. central bank should address too-low inflation through interest rates instead, Kashkari told a business group in Woodbury, Minnesota. Kashkari has dissented on the Fed's two rate hikes this year, saying he wanted to wait to see if the recent weakness in inflation is transitory. (Reporting by Ann Saphir; Editing by Paul Simao)