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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.
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Fed's Kashkari says central bank must lower inflation pressures
·London, United Kingdom
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Kashkari, of the Minneapolis Fed, tells CNBC that inflation follows high, close to 3%, even after August PCE comes below expected
Fed’s Kashkari says inflation is ‘still too high’ even after softer-than-expected PCE data, labor market is ‘pretty good’
[The stream is slated to start at 6 p.m. ET. Please refresh the page if you do not see a player above at that time.]Minneapolis Federal Reserve President Neel Kashkari said Wednesday that price growth remained a concern despite the latest data coming in cooler than economists predicted."Inflation is still too high," Kashkari told CNBC's…
Coverage Details
Total News Sources6
Leaning Left1Leaning Right0Center2Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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