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Kashkari Says Inflation Still Too High Despite Cooler Data

By Drooid · Oct 1, 2026, 2:43 AM UTC · How we work

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Fed President Neel Kashkari said inflation remains too high despite cooler data.
He noted the August core PCE price index ran at a 3% annual rate, below forecasts.
He said the 3% rate has persisted five years while consumer spending and GDP show resilience.
The Fed delivered its first rate hike in three years and signaled another could follow.
ADP reported private payrolls grew more than economists expected in September.

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Story summary

Fed President Neel Kashkari said inflation remains too high despite cooler data.
He noted the August core PCE price index ran at a 3% annual rate, below forecasts.
He said the 3% rate has persisted five years while consumer spending and GDP show resilience.
The Fed delivered its first rate hike in three years and signaled another could follow.
ADP reported private payrolls grew more than economists expected in September.