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Fed's Kashkari Warns Inflation Above Target, Prioritizes Reduction

5/28/2026

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Summary

Story summary

Neel Kashkari, head of the Federal Reserve Bank of Minneapolis, said lowering inflation is his top priority on May 7, 2024.
He warned that U.S. consumer prices have stayed above the Federal Reserve’s (Fed) 2% target for five years and could unanchor expectations, forcing a more aggressive response.
Kashkari said the Fed will keep a balanced approach to price stability and employment and will anchor expectations to avoid harsher policy actions.

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Story summary

Neel Kashkari, head of the Federal Reserve Bank of Minneapolis, said lowering inflation is his top priority on May 7, 2024.
He warned that U.S. consumer prices have stayed above the Federal Reserve’s (Fed) 2% target for five years and could unanchor expectations, forcing a more aggressive response.
Kashkari said the Fed will keep a balanced approach to price stability and employment and will anchor expectations to avoid harsher policy actions.