Fed’s Kashkari: Inflation is still above the target

Market news

11 May 2023

Fed’s Kashkari: Inflation is still above the target

Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, mentioned on Thursday that inflation has eased but warned it is above the Fed's 2% target. He was speaking at the Marquette CEO Town Hall in Michigan.

Kashkari noted that the banking crisis can be a source of slowing for the economy. He added that wage growth has softened somewhat, but the job market remains strong

Market reaction

The US Dollar is rising on Thursday and recently printed fresh daily highs across the board amid risk aversion and following US Producer Price Index and Jobless Claims.

Currencies. Daily history for Thursday, May 11, 2023

Commodities. Daily history for Wednesday, May 10, 2023

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