Kashkari: Broad Inflation Remains Too High Across US Economy
Minneapolis Federal Reserve President Neel Kashkari expressed concerns over broad inflation in the US economy, stating that it remains too high across all sectors despite recent efforts to control prices.
In a Sunday interview with Fox News' 'Sunday Morning Futures', Kashkari emphasized that even after accounting for volatile energy and food prices, inflation is still above target.
Kashkari supported the Federal Reserve's unanimous decision last week to raise interest rates by 0.25% to 3.75%-4.00%, citing strong economic growth and improving productivity as potential drivers of lower inflation in the future.
Crude oil prices have surged due to Middle East conflict, with tensions between the US and Iran contributing to higher costs, but Kashkari noted that this is just one aspect of a broader issue.