Federal Reserve Bank of Minneapolis Governor Neel Kashkari said that inflation is still too high, and the pressure has gone beyond the oil price shock caused by the Iran war. In an interview with the media, Kashkari said, “The inflation that Americans now feel every day is far more than just oil prices, but has penetrated all aspects of the economy.” Federal Reserve officials are increasingly concerned that inflation is not limited to areas affected by the Middle East conflict or tariffs. Kashkari said there is evidence that the service sector is also experiencing inflation. He pointed out that the responsibility of the Federal Reserve is to control inflation to the target level, and that the Bank of America has the tools to achieve this goal.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.