Fed's Kashkari Says Inflation Remains Above Target Despite Lower-Than-Expected PCE Data
Source Summary
Federal Reserve Bank of Minneapolis President Neel Kashkari stated that inflation remains "too high" following the Bureau of Economic Analysis release of August inflation data showing annual inflation above the Federal Reserve's 2 percent target. Kashkari made the comments to CNBC at a Council on Foreign Relations event.
Why it matters
A Federal Reserve president's assessment that inflation remains above target directly informs market expectations about the central bank's future monetary policy decisions.
