Fed’s Kashkari Says Strong Jobs Data Show Need for More Hikes
- Minneapolis Fed president still at 5.4% for fed funds target
- Kashkari says effect of rate hikes on jobs market muted so far
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Federal Reserve Bank of Minneapolis President Neel Kashkari said January’s strong labor-market report shows the US central bank needs to keep raising interest rates.
“Right now I’m still at around 5.4%,” Kashkari told CNBC in an interview Tuesday, referring to his forecast for how high rates need to go to bridle inflation. “If I had to pick a number today, I’d be where I was in December.”