Fed's Kashkari: Inflation Remains Too High Even Excluding Energy and Food
nashnova research
Minneapolis Fed President Neel Kashkari said inflation remains too high even excluding energy and food, signaling it has spread across the broader economy — and that the Fed is not close to easing.
What exactly did Kashkari say?
In a Fox News Sunday interview, Kashkari stated: even after stripping out volatile energy and food prices, inflation is still too high.
This means → inflation is not a temporary spike driven by oil or groceries — it has seeped into the wider economy.
He added that the Fed will do its part, while hoping other sectors of the economy gradually normalize.
Why does his voice matter more than most?
At the previous FOMC meeting, Kashkari dissented and pushed for a rate hike when the majority voted to hold rates steady.
In plain terms = he is the Fed's most prominent hawk — others wanted to wait; he wanted to act immediately.
This time he backed the unanimous decision to raise rates 25 basis points to 3.75%–4.00%, signaling the internal debate has converged on tightening.
What does this mean for markets?
The key signal: even the Fed's loudest hawk has rejoined the majority, which means there is no internal disagreement on the direction of further tightening.
This means → markets should not expect any pause or rate-cut signal in the near term.
Put simply = the Fed is telling markets: inflation hasn't retreated, and neither will we.
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