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Kashkari Sees 2022 Fed Rate Hikes to Counter Inflation Risk

  • Inflation is higher, more persistent than expected, he says
  • Minneapolis Fed president has been most dovish policy maker
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Federal Reserve Bank of Minneapolis President Neel Kashkari said he supports two interest-rate increases this year to counter risks posed by inflation.

“I brought forward two rate increases into 2022 because inflation has been higher and more persistent than I had expected,” Kashkari said Tuesday in an essay posted on the Minneapolis Fed’s website.