Kashkari predicts more rate hikes until 2027

Nellie Kashkari, the President of the Federal Reserve Bank of Minneapolis, predicted that the bank will continue raising interest rates until 2027 to combat high inflation, with a possible additional increase of 25 basis points before the end of 2023, followed by another increase in 2027. Although he did not specify the timing of the next rate hike, he indicated that the economy remains strong and inflation is still very high, which could necessitate further monetary tightening. Last month, the bank raised interest rates to a range between 3.75% and 4%, amid expectations of another increase in 2026, while carefully monitoring financial markets and the banking sector to reinforce price stability and sustainable economic growth.

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