Kashkari Reiterates High Inflation Concerns Despite Recent Rate Hike

Minneapolis Federal Reserve President Neel Kashkari stated that inflation remains high across all sectors of the US economy, not just in rising oil prices.

In a recent interview with Fox News' 'Sunday Morning Futures', Kashkari emphasized that even if energy and food prices are stripped out, inflation is still too high.

Kashkari supported the unanimous vote to raise interest rates by a quarter percentage point to 3.75%-4.00% last week and was one of three officials who dissented at the Fed's prior meeting in favor of a hike.

Projections released along with the rate-hike decision showed all but two Fed policymakers see at least another quarter-point increase this year, with rate futures markets reflecting a two-in-three chance that the Fed's policy rate ends 2026 in the 4.00% to 4.25% range.