Minneapolis Federal Reserve Bank President Neel Kashkari stated on Sunday that inflation in the U.S. economy remains too high,
emphasizing that price pressures extend beyond the recent rise in energy costs.
In an interview on Fox News’ *Sunday Morning Futures*, Kashkari noted that inflation remains elevated even when excluding volatile food and energy prices, indicating persistent underlying price pressures. He stated that the Federal Reserve would continue its efforts to lower inflation as economic conditions evolve.
Kashkari also supported the Fed's decision last week to raise interest rates by 25 basis points, bringing the target range for the federal funds rate to 3.75%–4.00%. This decision marked a shift in stance compared to the previous Federal Open Market Committee meeting, where Kashkari was one of only three members to vote for a rate hike, while the majority favored keeping rates unchanged.
His comments highlight the tension the Fed faces in balancing persistent inflation against broader economic shifts. Kashkari expressed hope for support from other sectors of the economy as conditions normalize, but emphasized that inflation has not yet fallen enough to alleviate concerns regarding price stability.