Kashkari Says Interest Rate Hikes Still a Mystery

Federal Reserve Bank of Minneapolis President Neel Kashkari expressed uncertainty about how high interest rates will need to go to control inflation during an interview on Bloomberg Television.

Kashkari stated that it's the central bank's job to tame inflation after five years of supply shocks, and they will do whatever is necessary to get prices back down to their target.

The question is how high rates need to go, Kashkari said, but he didn't know the answer.