Kashkari Flags Stubborn Inflation Despite Resilient US Growth

Minneapolis Federal Reserve President Neel Kashkari has expressed concerns that inflation remains too high in all sectors of the US economy, not just due to rising oil prices. This sentiment was reported by Reuters on Sunday.

Kashkari emphasized that 'inflation extends beyond oil prices' and that tackling it will require support from other parts of the government and the broader economy. He noted that despite inflation being a concern, growth has been fairly robust, and the American economy remains very resilient despite ongoing wars.

The Fed's bias is considered hawkish due to these comments, indicating that they are likely to maintain a tight monetary policy stance. This sentiment was reflected in the US Dollar Index (DXY), which traded 0.07% higher on the day at 100.30.