Federal Reserve policymaker Neel Kashkari reiterated on Monday that the United States inflation rate is still too high, however noting there are signs it is starting to come down.
The Minneapolis Fed president warned there's a long way for inflation to reach its 2% target, as the labor market is still hot. The Fed has more work to do, he claimed, explaining that we "shouldn't be fooled" by the positive data which came out in previous months.
US inflation declined to 4.9% last month, per the last week's data, with the Fed confirming earlier in May the tightening cycle might be over soon as the rates are nearing sufficiently restrictive levels.
