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Minneapolis Fed President Neel Kashkari says he expects a rate hike this year
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- Minneapolis Federal Reserve President Neel Kashkari said Friday he has changed his outlook and now expects that one interest rate increase will be necessary this year.
- "In March, I had penciled in one rate cut by the end of the year.
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Minneapolis Federal Reserve President Neel Kashkari said Friday he has changed his outlook and now expects that one interest rate increase will be necessary this year.
In remarks just over a week after the Federal Open Market Committee voted to hold its benchmark rate steady, Kashkari said he sees a hike as likely this year as the economy continues to feel the hit from spiking inflation tied to fighting in the Middle East and other factors.
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