Kashkari Warns High Inflation Spreading Beyond Oil Prices

Minneapolis Fed President Neel Kashkari warned that inflation remains excessively high and is spreading to all corners of the US economy.

In an interview, he noted that 'The inflation U.S. consumers feel every day goes far beyond rising oil prices, it has spread to every corner of the economy.'

Last week, the Federal Reserve raised the target range for the federal funds rate by 25 basis points to 3.75%, 4%, in an effort to curb inflation.

Kashkari emphasized that despite geopolitical tensions and trade challenges, the US economy remains highly resilient, with a robust labor market.