Fed's Kashkari: Nearly Half of Officials in Last Week's Dot Plot Forecast at Least One More Rate Hike This Year

Odaily news: Federal Reserve official Kashkari stated, "I am concerned about inflation, which is not only related to the situation in the Middle East but also reflects signs of broader inflationary pressures in the economy." The Iran war has pushed up oil prices, and prices in many categories have also risen. This has heightened concerns among some Fed officials that inflation is more widespread and persistent, potentially requiring stronger action from the central bank. A report released earlier this week showed that the annual PCE rate in May recorded 4.1%, the largest increase since April 2023. Prices have exceeded the Fed's 2% target for over five years. In the dot plot forecast released by the Fed last week, half of the officials who submitted forecasts expected at least one rate hike this year. (Data from Jinshi)