Fed’s Kashkari Favors Raising Rates Another Point, Then Pausing
- Minneapolis Fed chief compares inflation to Uber surge pricing
- Kashkari enters voting ranks of Fed policy committee this year
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Federal Reserve Bank of Minneapolis President Neel Kashkari said the US central bank has at least another percentage point of interest-rate increases to deliver in 2023 even as inflation, which he compared to Uber surge pricing, shows signs of slowing.
“It will be appropriate to continue to raise rates at least at the next few meetings until we are confident inflation has peaked,” Kashkari said in an essay published Wednesday on Medium.com.