Minneapolis Fed President Neel Kashkari stated that despite the progress in the economy, inflation is still at high levels and that they have not made a final decision on whether the US Federal Reserve (Fed) will continue to increase interest rates. “I am not ready to say that the rate hikes are complete,” Kashkari said in a statement. “But given the recent positive signs about inflation, we will need more data before we can decide whether we need to take additional steps.”
While looking positively at the progress of the economy so far, Kashkari emphasized that inflation is still at high levels and this situation continues to affect the policy decisions of the Fed. Kashkari said, “It is important that inflation is brought under control and it reaches a stable level. Therefore, steps such as increasing interest rates may be necessary for the long-term health of the economy.
However, Kashkari also expressed that more data and information may be needed on interest rate hikes. “It may take some more time to get more data and see how inflation develops. Based on these data, a clearer picture can be formed on how the interest policy will be shaped.
