Fed's Kashkari expects more rate hikes, unsure on need to act this month

Minneapolis Federal Reserve President Neel Kashkari indicated that additional interest rate increases would likely be necessary to restrain the economy into 2027, though he expressed uncertainty about whether the next hike should occur at the upcoming October 27-28 meeting. Kashkari noted that recent economic data suggests the economy is performing better than he anticipated, and inflation remains elevated.