Fed’s Kashkari “surprised by markets’ interpretation” and says officials are “a long way” from backing off inflation fight.

www.nytimes.com/2022/07/29/business/economy/neel-kashkari-federal-reserve.html

“I’m surprised by markets’ interpretation,” Mr. Kashkari said in an interview. “The committee is united in our determination to get inflation back down to 2 percent, and I think we’re going to continue to do what we need to do until we are convinced that inflation is well on its way back down to 2 percent — and we are a long way away from that.”

Now Kashkari isn’t Powell (he’s president of the Federal Reserve Bank of Minneapolis which is one of the 12 Federal Reserve Bank) so this isn’t coming from the horse’s mouth, but I’d bet that more rate hikes are on the way and we will be trending lower later this year.

h/t mygusto97