Fed’s Kashkari says inflation is ‘still too high’ even after softer-than-expected PCE data
He said the latest inflation data did not change his view and that another increase could depend on how the economy performs.
- On Wednesday, Minneapolis Federal Reserve President Neel Kashkari said inflation remains "still too high," signaling the central bank may raise interest rates again depending on economic performance.
- The Federal Reserve issued its first interest rate hike in three years this month to combat higher-than-preferred price growth, marking a significant policy shift.
- Despite Wednesday's cooler August personal consumption expenditures data, Kashkari noted inflation is "running at around a 3% rate" and has been elevated for more than five years.
- Kashkari clarified that projecting further hikes at the September Federal Open Market Committee meeting "is a snapshot in time based on information we had."
- Although economic data showed the economy is "resilient," officials remain focused on bringing inflation back to target amid persistent price pressures.
18 Articles
18 Articles
Fed's Kashkari says inflation 'still too high' despite lower PCE data than expected
Federal Reserve Bank of Minneapolis President Neel Kashkari said Wednesday that inflation remains “too high,” after the the Bureau of Economic Analysis (BEA) released data showing that annual inflation remained above the central bank’s 2 percent target in August. “Inflation is still too high,” Kashkari told CNBC’s Steve Liesman at a Council on Foreign Relations...
(New York = Yonhap News) Correspondent Kim Yeon-sook = Minneapolis Federal Reserve President Neel Kashkari said on the 1st (local time) that in order to lower prices to the target level...
The president of the Federal Reserve (Fed) of Minneapolis, Neel Kashkari, said he did not know at what level the interest rates will need to arrive to contain the high prices, and said that it is up to the American central bank to control inflation after five years of supply shocks. Exclusive material for subscribers. To have full access, access the link of the subject and register.
The Fed's Preferred Inflation Gauge Was Cooler Than Expected. But One Of Its Member Warned It's Still To High.
"I didn't think the inflation data today really changed that story for me very much," Neel Kashkari said about the latest personal consumption expenditures price index.
"Inflation is still too high," said the head of Minneapolis's regional central bank.
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