Federal Reserve Bank of Minneapolis president Kashkari said inflation remains too high despite the latest inflation data coming in below economists' forecasts. He noted various measures of inflation are running around 3% and have been elevated for more than five years, and the recent print has not materially changed that assessment. Other indicators released Wednesday, including consumer spending and GDP, show US economic resilience. Kashkari said he expects one more rate hike this year and anot

Federal Reserve Bank of Minneapolis president Kashkari said inflation remains too high despite the latest inflation data coming in below economists' forecasts. He noted various measures of inflation are running around 3% and have been elevated for more than five years, and the recent print has not materially changed that assessment. Other indicators released Wednesday, including consumer spending and GDP, show US economic resilience. Kashkari said he expects one more rate hike this year and another in 2027, added that Fed hikes are unlikely to significantly curb investment by hyperscale cloud providers, and described the recent rise in bond yields as a global phenomenon.