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Fed's Kashkari says inflation still too high despite cooler PCE data

Original: Fed’s Kashkari says inflation ‘still too high’ despite lower PCE data than expected

Minneapolis Federal Reserve President Neel Kashkari said inflation in the United States remains 'still too high', even after new PCE price data came in lower than economists expected. His remarks signal that Fed officials are not ready to declare victory on inflation and may keep policy restrictive until price growth is clearly back toward the central bank's 2% target.

Why now: Fresh inflation data and a Fed official's cautious response are shaping expectations about the path of interest rates.

Neel KashkariFederal ReserveUnited States

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Evidence

• Fed’s Kashkari says inflation ‘still too high’ despite lower PCE data than expected · The Hill

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