Federal Reserve official Neel Kashkari said U.S. inflation remains elevated, suggesting the central bank may need to keep interest rates higher for longer to bring price pressures under control.
Kashkari said inflation remains above the Federal Reserve’s 2% target, while recent economic data has not significantly changed his outlook.
He expects one more interest rate increase this year and another hike in 2027, highlighting continued concerns about persistent inflation.
His comments reinforce expectations that the Federal Reserve could maintain a restrictive monetary policy for longer if inflation fails to move closer to its target.
