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

Odaily Planet Daily News: Federal Reserve official Kashkari said, "I am concerned about inflation. This is not only related to the situation in the Middle East, but also a sign of broader inflationary pressure in the economy." The war in Iran has pushed up oil prices, and prices in many categories have also risen. This has heightened concerns among some Fed officials that inflation is broader and more persistent, possibly 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 more than five years. In the dot plot forecast released by the Fed last week, half of the officials who provided dot plot forecasts expect at least one rate hike this year. (Data from Jin Shi)