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☆ Inflation seems to be cooling again. Americans aren’t buying it
▼ + stars: | 2024-05-31 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

A slew of big-box retailers have lowered prices on items in recent weeks, citing moderating inflation and frugal customers. Recent economic data has also suggested that inflation is cooling, after data earlier this year spurred fears that progress had stalled. Yet Americans don’t seem convinced that inflation is moderating or that the economy is as healthy as indicators suggest. Mortgage rates have declined in recent weeks but remain near 7%. Target announced plans to cut prices on thousands of consumer basics as inflation cuts into household budgets.

Persons: aren’t, Charles Schwab’s, ”, James Kostulias, Charles Schwab, Joe Raedle, Jerome Powell, Powell, Neel Kashkari, “ I’m, Schumer, Chuck Schumer, General Merrick Garland, “, Elizabeth Warren, Amy Klobuchar, Bernie Sanders, Dick Durbin, Scott Sheffield, Read, Matt Egan, Mat Ishbia, homebuyers, refinances Organizations: CNN Business, Bell, New York CNN, Walmart, Target, Ikea, Aldi, CPI, “ Traders, Minneapolis Federal, CNBC, Democrats, Justice Department, Oil, Big Oil, DOJ, Big, Federal Trade Commission, United Wholesale Mortgage, Phoenix Suns NBA Locations: New York, Miami , Florida, Minneapolis, Texas, Sens

☆ CNBC Daily Open: Nasdaq tops 17,000; Exxon faces shareholder revolt
▼ + stars: | 2024-05-29 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nasdaq hits record in muted tradeThe Nasdaq Composite closed above 17,000 for the first time, driven by a surge in Nvidia shares, in an otherwise lackluster day for the market. The yield on the 10-year Treasury note rose following a $70 billion Treasury Department auction of 5-year notes that met with weak demand. T-Mobile plans to use U.S. Cellular's wireless spectrum to improve coverage in rural areas.

Persons: Neel Kashkari, Vasu Raja, Raja, Ryan Salame, Sam Bankman, Salame, Todd Gordon Organizations: CNBC, Nasdaq, Nvidia, Dow Jones, Minneapolis Federal, . American Airlines, American Airlines, Mobile, U.S, Cellular, U.S . Cellular, GameStop, Commission

☆ Weekly mortgage demand drops to three-month low, as rates begin climbing again
▼ + stars: | 2024-05-29 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

After a brief pullback during much of May, mortgage rates began rising again last week. That had an immediate impact on what had been several weeks of strengthening mortgage demand. As a result, total mortgage application volume fell 5.7% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. "Borrowers remain sensitive to small increases in rates, impacting the refinance market and keeping purchase applications below last year's levels. Mortgage rates jumped sharply to start this week, rising 12 basis points just on Tuesday, according to a separate survey from Mortgage News Daily.

Persons: Joel Kan, Kan, Neel Kashkari Organizations: Mortgage, Mortgage News, Minneapolis Federal, CNBC Locations: Austin , Texas

☆ Nasdaq closes at record high, Fed's Kashkari seeks more inflation data for rate cuts, GameStop soars
▼ + stars: | 2024-05-29 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Dow Jones Industrial Average fell more than 200 points after hawkish comments from Minneapolis Federal Reserve President Neel Kashkari. Fed's Kashkari seeks more inflation dataThe Federal Reserve should wait for significant progress on inflation before cutting interest rates, Kashkari told CNBC on Tuesday. GameStop soarsShares of GameStop jumped more than 20% after the video game retailer announced it raised $933 million from a share offering. [PRO] Riding the AI boomCNBC's Todd Gordon analyzes a cybersecurity company that could benefit from investor enthusiasm for artificial intelligence-related stocks.

Persons: Neel Kashkari, Fed's Kashkari, Kashkari, Vasu Raja, Raja, Korea's, Hang Seng, Todd Gordon Organizations: CNBC, Nasdaq, Nvidia, Dow Jones, Minneapolis Federal, Federal, American Airlines, GameStop, Japan's Nikkei, China's CSI, International Monetary Fund Locations: Minneapolis, Asia, Pacific

☆ No need to hurry into rate cuts, Fed's Kashkari says: 'We should take our time and get it right'
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNo need to hurry into rate cuts, Fed's Kashkari says: 'We should take our time and get it right'Minneapolis Federal Reserve President Neel Kashkari says he wants to see "many more months" of positive inflation numbers before interest rates start to come down — and refused to rule out a rate hike if needed.

Persons: Fed's Kashkari, Neel Kashkari Organizations: Minneapolis Federal Locations: Minneapolis

☆ The Fed will have to raise rates if inflation strays from the target, says Stifel’s Lindsey Piegza
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will have to raise rates if inflation strays from the target, says Stifel’s Lindsey PiegzaLindsey Piegza, Stifel chief economist, joins 'Squawk Box' to discuss Minneapolis Federal Reserve President Neel Kashkari's recent comment on rate hikes, her expectations from the Fed, and more.

Persons: Stifel’s Lindsey Piegza Lindsey Piegza, Neel Kashkari's Organizations: Minneapolis Federal

☆ More interest-rate hikes aren't off the table yet, Fed president says
▼ + stars: | 2024-05-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Interest-rate hikes aren't out of the question, Minneapolis Fed President Neel Kashkari said. "If we get surprised by the data, then we would do what we need to do," he said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAs markets debate the timing of when interest rates could finally ease, investors shouldn't be so sure rate hikes won't resume. According to Minneapolis Federal Reserve Bank president, Neel Kashkari, monetary policy is likely restrictive enough for now, but no central banker can say with certainty that more rate hikes are completely out of the question.

Persons: Neel Kashkari, —, shouldn't Organizations: Service, Minneapolis Federal Reserve Bank, Business Locations: Minneapolis

☆ Fed's Kashkari wants to see 'many more months' of positive inflation data before a rate cut
▼ + stars: | 2024-05-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — The Federal Reserve should wait for significant progress on inflation before cutting interest rates, Minneapolis Federal Reserve President Neel Kashkari told CNBC Tuesday. Asked what conditions were needed for the Fed to cut rates once or twice this year, Kashkari said: "Many more months of positive inflation data, I think, to give me confidence that it's appropriate to dial back." He said the central bank could potentially even hike rates if inflation fails to come down further. He noted that the central bank may consider raising its target rate in the future, but said it was not appropriate to "move the goal posts" at this stage. The Bank of England is also broadly expected to cut rates this summer.

Persons: Neel Kashkari, Kashkari Organizations: Minneapolis Federal, CNBC, Fed, European Central Bank, ECB, Bank of England Locations: U.S

☆ Stock market today: US stocks end mostly higher as multi-day rally pushes on
▼ + stars: | 2024-05-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The recent equity rebound stalled as investor rate cut bets were made uncertain by Fed commentary. Fed President Neel Kashkari said rates might not be restrictive enough to clamp down on inflation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks were mostly higher Tuesday, with the S&P 500 and Dow Jones Industrial Average continuing to pull slightly higher. His remarks followed similar hawkishness from Fed President Tom Barkin on Monday, who indicated that the economy will need to slow down more before policy can pivot.

Persons: Neel Kashkari, —, Tom Barkin, Lisa Cook, Austan Goolsbee Organizations: Disney, Service, Dow Jones, Dow, Minneapolis Federal, Chicago Locations: Minneapolis, Here's

☆ Dollar steady ahead of jobs data; yen hits two-week high
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: +3 min

The yen, while still close to the 152 range, hit a two-week high against the greenback as safe-haven bids and fresh warnings from Japanese authorities buoyed the currency. The dollar has had a turbulent week, falling from a five-month high to a two-week low after an unexpected slowdown in U.S. services growth supported expectations of bringing interest rates down. The dollar index , which measures the greenback against a basket of major currencies, was last largely unchanged at 104.18. Japanese Finance Minister Shunichi Suzuki on Friday reiterated the government's resolve to take appropriate action against sharp yen falls. The yen strengthened 0.29% versus the greenback to a two-week high of 150.92.

Persons: payrolls, Neel Kashkari, Jerome Powell, Charu Chanana, Joe Biden, Matt Simpson, Shunichi Suzuki, Kazuo Ueda, bitcoin Organizations: U.S, The U.S, greenback, Minneapolis Federal, Saxo, Biden, Finance, Bank of Japan, Asahi Locations: The, Minneapolis, Gaza, Iran

Traders work on the trading floor at the New York Stock Exchange on April 5, 2024. Stocks rebounded Friday following the Dow Jones Industrial Average 's worst session in more than a year as traders cheered a stronger-than-expected jobs report and looked past a jump in rates. The 30-stock Dow climbed 307.06 points, or 0.8%, to settle at 38,904.04. The Dow slid 2.27%, posting its worst weekly performance in 2024. The Dow tumbled about 530 points, or 1.35%, on Thursday, marking its biggest daily drop since March 2023 and its fourth consecutive losing session.

Persons: Stocks, Dow, Nonfarm payrolls, Dow Jones, Jamie Cox, Neel Kashkari Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Treasury, Labor, Federal Reserve, Harris Financial, Minneapolis Federal Locations: Minneapolis

☆ Treasury yields hold steady as investors weigh comments from Fed officials
▼ + stars: | 2024-02-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was up by just over one basis point to 4.1095%. The 2-year Treasury yield was last down by less than one basis point at 4.4185%. U.S. Treasury yields were little changed on Thursday as investors considered remarks from Federal Reserve officials about the path ahead for interest rate cuts. On Wednesday, Minneapolis Federal Reserve President Neel Kashkari told CNBC's "Squawk Box" that he believes two or three rate cuts would take place in 2024. The comments echoed those made by Fed Chairman Jerome Powell last week and stoked concerns among investors that fewer rate cuts than they have been expecting could be implemented.

Persons: Neel Kashkari, CNBC's, Jerome Powell, Adriana Kugler, Powell Organizations: U.S, Treasury, Federal Reserve, Minneapolis Federal, Fed

☆ Fed's Neel Kashkari expects only two or three interest rate cuts this year
▼ + stars: | 2024-02-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York City, New York, May 22, 2023. Minneapolis Federal Reserve President Neel Kashkari said Wednesday that he expects the central bank to cut rates only a few times this year, contrary to market expectations. "We just need to look at the actual inflation data to guide us," Kashkari said. He added that there are "compelling arguments to suggest we could be in a longer, higher rate environment going forward." Kashkari said the trend indicates that interest rates may not be exerting as much pressure on the economy as expected.

Persons: Neel Kashkari, Jerome Powell, Kashkari Organizations: Federal Reserve Bank of Minneapolis, Reuters, Minneapolis Federal, CNBC, CBS, Market, Minneapolis Fed, Labor Locations: New York City , New York, Minneapolis

☆ Fed's Kashkari backs sentiment that policymakers can take their time cutting interest rates
▼ + stars: | 2024-02-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Neel Kashkari, president and CEO of the Federal Reserve Bank of Minneapolis, during an interview in New York on Nov. 7, 2023. Interest rates running at their highest levels in about 23 years are not hurting the economy and could buy policymakers more time before deciding whether to cut, Minneapolis Federal Reserve President Neel Kashkari said Monday. In an essay released on the central bank's website, Kashkari said economic developments have shown that Fed policy is not as restrictive on growth as it appears on the surface. That means the longer-run "neutral" rate, or the level that is neither restrictive nor stimulative, is probably higher than before the Covid-19 pandemic. Markets have been betting on an aggressive move lower, but recent statements from central bank officials indicate little need to hurry.

Persons: Neel Kashkari, Kashkari Organizations: Federal Reserve Bank of Minneapolis, Minneapolis Federal Locations: New York

Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. Brent crude futures closed below $84 a barrel for the first time since Hamas Islamists' Oct. 7 attack on Israel. A recovery in oil exports from the Organization of Petroleum Exporting Countries also added to the pressure on oil prices, UBS analyst Giovanni Staunovo said. On the demand side, China's crude oil imports in October showed robust growth but its total exports of goods and services contracted at a quicker pace than expected. "There are concerns in the oil markets about both rising supply and sliding demand," said Mizuho analyst Robert Yawger.

Persons: Nick Oxford, Powell, Craig Erlam, Giovanni Staunovo, Staunovo, Brent, Fiona Cincotta, Neel Kashkari, Jerome Powell, Robert Yawger, It's, Shariq Khan, Trixie Yap, Yuka Obayashi, David Gregorio, Matthew Lewis Organizations: Midland , Texas U.S, REUTERS, bbl, BENGALURU, Brent, U.S, West Texas, Traders, Organization of Petroleum, UBS, U.S . Energy Information Administration, ., Minneapolis Federal, Investors, Thomson Locations: Midland , Texas, Israel, U.S, Bengaluru, Singapore, Tokyo

☆ U.S. crude oil prices fall below $78 a barrel to their lowest since July
▼ + stars: | 2023-11-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

An oil pumpjack pulls oil from the Permian Basin oil field in Odessa, Texas, on March 14, 2022. U.S. crude prices on Tuesday fell below $78 a barrel to hit the lowest point since July as weak global economic data overshadowed concerns that the Israel-Hamas war could erupt into a broader regional conflict. Beijing's crude oil imports rose by volume and value in October, but the country's overall exports fell more than expected, indicating slowing global demand. The data out of China offset the effect of Saudi Arabia's and Russia's oil output cuts, which lifted oil prices earlier in the week. Oil prices had spiked in the week following Hamas' devastating terrorist attacks on Israel on concerns that the war could escalate into a broader regional conflict that disrupts oil supply.

Persons: Brent, Neel Kashkari, Kashkari, — CNBC's Evelyn Cheng Organizations: West Texas, Minneapolis Federal, Bloomberg Television, CNBC PRO Locations: Odessa , Texas, Israel, China, Minneapolis, U.S, Saudi, Riyadh, Moscow

Following the comments from top Fed officials on Monday, Atlanta Fed President Raphael Bostic said the U.S. central bank does not need to raise interest rates any further, and that he sees no recession ahead. "Everybody has one eye on the Middle East conflict and one eye on what's happening with bond yields. The decline in bond yields is the key driver today," said John Praveen, managing director & co-chief investment officer at Paleo Leon. "If tensions escalate bond yields might decline further because they're a safe haven but equities would sell off in that instance because of increased uncertainty and risk aversion," he said. But the flight to safety has made Treasury yields fall enough to push up equities," Tuz said.

Persons: Brendan McDermid, dovish, Raphael Bostic, John Praveen, Praveen, Peter Tuz, Tuz, Neel Kashkari, Christopher Waller, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Terence Gabriel, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, U.S . Federal Reserve, Atlanta Fed, Treasury, Chase Investment, Nasdaq, Dow Jones, Minneapolis Federal Reserve Bank, Traders, PepsiCo, Truist, Rivian, UBS, EV, Thomson Locations: New York City, U.S, Gaza, Paleo Leon, Charlottesville , Virginia, Israel, Minneapolis

☆ CNBC Daily Open: Things are ‘likely to remain messy’
▼ + stars: | 2023-09-28 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Minneapolis Federal Reserve President Neel Kashkari thinks the current interest rate range of 5.25% to 5.5% might not be high enough to be restrict inflation, he told CNBC. But even after that turmoil, it doesn't look like stocks have hit their bottom yet, writes CNBC Pro's Bob Pisani. Here are the signs he's looking for before he thinks stocks can rally again.

Persons: Europe's, John Chambers, Neel Kashkari, Kashkari, Meta, Stocks, —, hasn't, Bob Pisani Organizations: CNBC, Dow Jones, Nasdaq, Treasury, AAA, AA, Minneapolis Federal, metaverse Meta Locations: Congress, Minneapolis

☆ CNBC Daily Open: Thinking about tech
▼ + stars: | 2023-09-27 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Alibaba unit IPO Alibaba plans to list its logistics unit Cainiao in Hong Kong, the Chinese e-commerce giant said in a regulatory filing on Tuesday. It's the first to announce listing plans among the six business units as a result of one of the most radical shake-ups in Alibaba's history . The company split its structure into six business units, and hopes most of them will be able to raise outside funds and go public.

Persons: Rene Haas, It's, Dimon, — Dimon, it's, Jerome Powell, Jamie Dimon, Neel Kashkari, Herman Narula, Narula, Alibaba Organizations: Arm, Nasdaq, CNBC, TV18, Dow Jones, Dow, Financial, Treasury, Federal, JPMorgan Chase, Minneapolis Federal, Tech Locations: New York City, Hong Kong, Ukraine, America, China, India, U.S, Minneapolis

☆ Fed's Neel Kashkari isn't sure if interest rates are high enough to stop inflation
▼ + stars: | 2023-09-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Minneapolis Federal Reserve President Neel Kashkari said Wednesday he's unsure whether the central bank has raised interest rates enough to tame inflation. "It's possible given the dynamics of the reopening of the economy, that the neutral rate may have moved up." Some of his concerns stem from the fact that sectors of the economy that normally are affected by rate hikes seem to be ignoring them. "If we have to keep rates higher for longer, it's because the economic fundamentals are even stronger than I appreciate and the [economic] flywheel is spinning," he said. "It isn't obvious to me that that means that a recession is more likely, it just might mean that we need a higher rate path to get inflation back down to 2%."

Persons: Neel Kashkari, Kashkari Organizations: Minneapolis Federal, CNBC, Market Locations: Minneapolis

☆ Oil prices climb as markets focus on supply tightness
▼ + stars: | 2023-09-27 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsSINGAPORE, Sept 27 (Reuters) - Oil prices rose nearly $1 on Wednesday as markets focused on supply tightness heading into winter and a "soft landing" for the U.S. economy. Brent crude futures rose 86 cents, or 0.9%, to $94.82 a barrel by 0340 GMT, while U.S. West Texas Intermediate crude futures climbed 86 cents, or 0.9%, to $91.25. "Oil prices are overall relatively strong amid the current tightening of supply," said CMC Markets analyst Leon Li, however adding that price support from Russia and Saudi Arabia supply cuts may be limited through the year-end. "(Economic) Data from countries in Europe and the United States have recently weakened ... Oil prices in October may show a volatile trend as a whole.

Persons: Tatiana Meel, Cushing, Leon Li, Neel Kashkari, Arathy Somasekhar, Emily Chow, Sonali Paul 私 Organizations: Rights, Brent, U.S, West Texas, Organization of, Petroleum, ANZ Research, Russian Railways, Minneapolis Federal Reserve Bank, of England Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, Oklahoma, Cushing, Saudi Arabia, Europe, United States, Minneapolis, Houston, Singapore

☆ CNBC Daily Open: Is tech the gift that keeps on giving?
▼ + stars: | 2023-09-27 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "I am not sure if the world is prepared for 7%," he told The Times of India in an interview. Leaders from the Writers Guild of America voted unanimously to end the strike on Wednesday. Under the agreement, AI cannot write or rewrite literary material and AI-generated material will not be considered source material.

Persons: Korea's Kospi, Jamie Dimon, Neel Kashkari, It's, Kamil Dimmich Organizations: CNBC, Nikkei, Dow Jones, JPMorgan Chase, Minneapolis Federal, Fed, Hollywood, Writers Guild of America, Writers, International Monetary Fund Locations: Asia, China, U.S, India, Hong Kong, Guyana, South America, it's

☆ Oil prices edge higher as markets focus on supply tightness
▼ + stars: | 2023-09-27 | by ( ) www.cnbc.com time to read: +2 min

An aerial view of a crude oil storage facility is seen on May 4, 2020 in Cushing, Oklahoma. Oil prices ticked up in early trade on Wednesday, as markets focused on supply tightness heading into winter and a "soft landing" for the U.S. economy. Brent crude futures rose 33 cents, or 0.4%, to $94.29 a barrel by 0015 GMT, while U.S. West Texas Intermediate crude futures climbed 31 cents, or 0.3%, to $90.70. Industry data released on Tuesday showed U.S. crude oil stockpiles rose last week by about 1.6 million barrels, against analysts' expectations for a drop of about 300,000 barrels. However, markets continued to worry about U.S. crude stockpiles at the key Cushing, Oklahoma, storage hub falling below minimum operating levels.

Persons: Cushing, Neel Kashkari Organizations: Brent, U.S, West Texas, Organization of, Petroleum, Russian Railways, Minneapolis Federal Reserve Bank, of England, Senate, Republicans Locations: Cushing , Oklahoma, U.S, Oklahoma, Cushing, Russia, Minneapolis

"I'm one of those folks," said Kashkari, who is considered one of the Fed's more hawkish policymakers. Kashkari said that if inflation cools next year as expected, the Fed will need to cut rates to keep policy from tightening too much. But he also said he has been surprised by how well consumer spending has held up despite the Fed's rate hikes so far. "Everybody on the Federal Open Market Committee is committed" to bringing inflation back down to the Fed's 2% target, he said. Inflation by the Fed's preferred measure was 3.3% in July.

Persons: Neel Kashkari, Mike Segar, Kashkari, Ann Saphir, Himani Sarkar, Muralikumar Organizations: Federal Reserve Bank of Minneapolis, Reuters, REUTERS, Minneapolis Federal Reserve Bank, Wharton School of Business, Fed, U.S, Federal, Thomson Locations: New York City , New York, U.S, Minneapolis

☆ Fed's Neel Kashkari sees 40% chance of 'meaningfully higher' interest rates
▼ + stars: | 2023-09-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, attends an interview with Reuters in New York City, New York, U.S., May 22, 2023. Minneapolis Federal Reserve President Neel Kashkari thinks there's nearly a 50-50 chance that interest rates will need to move significantly higher to bring down inflation. In that instance, the inflation rate falls but stays above the Fed's 2% target, posing a challenge for policymakers. Noting that rate-sensitive areas such as housing and autos have held strong despite Fed tightening, Kashkari remarked, "These dynamics raise the question, How tight is policy right now? Services inflation, excluding the cost of renting shelter, has been coming down, but has otherwise remained elevated, raising longer-term concerns.

Persons: Neel Kashkari, there's, Kashkari Organizations: Federal Reserve Bank of Minneapolis, Reuters, Minneapolis Federal Locations: New York City , New York, U.S, Minneapolis

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