Minneapolis Fed President Neel Kashkari acknowledged the strides made towards controlling inflation, yet emphasizing the journey towards 2% inflation target is ongoing.
During an event, Kashkari highlighted, “We’re not all the way there yet, but we’ve made a lot of progress on inflation.”
Kashkari pointed to recent inflation data as a sign of encouraging trends, noting that both three- and six-month inflation measures are aligning closely with Fed’s target. “The six-month data is basically there and the three-month data is basically there,” he observed, indicating that if current patterns persist, Fed is on a track to achieving its inflation objective.
However, Kashkari remains cautiously optimistic, refraining from declaring an outright victory over inflation. “I don’t want to say we’re necessarily going to just glide past all the way to 2% but fingers crossed, the data is looking positive.”
