Fed may have to carry bulk of burden in hitting inflation goal - Kashkari
(Reuters) -The U.S. Federal Reserve may not get as much help as it hopes from supply chains easing as it battles to bring down inflation to its 2% goal, Minneapolis Fed President Neel Kashkari said on Monday, as he pointed out a string of data which still appear to show consumers remain willing to spend despite higher prices..
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(Reuters) - Minneapolis Fed President Neel Kashkari said on Monday that supply chain issues that have helped keep U.S. inflation high are not ebbing as fast as he thought and expressed less confidence on when they will begin to ease.
“I’m confident we are going to get inflation back down to our 2% target, but I am not yet confident on how much of that burden we’re gonna have to carry versus getting help from the supply side,” Kashkari said in an interview with CNBC.
“Virtually all of that news is in the wrong direction,” he said, citing the war in Ukraine and COVID lockdowns in China.
Reporting by Susan Heavey and Lindsay Dunsmuir; Editing by Toby Chopra
