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Fed’s Kashkari Says Inflation Too High, Wages Softened Somewhat
Federal Reserve Bank of Minneapolis President Neel Kashkari said price pressures remain too hot, even as officials assess the imprint that banking strains are having on the US economy. “Inflation has come down but it’s still well above our 2% target,” Kashkari said Thursday at an event in Marquette, Michigan. “We have seen some softening in wage growth nationally, but it’s very mixed.” Kashkari votes this year on the policy-setting Federal Open Market Committee. Policymakers raised rates by a quarter percentage point at a meeting earlier this month, bringing interest rates to a range of 5% to 5.25% and ... (full story)