Official: Inflation Persists Despite Oil Prices
Neil Kashkari, President of the Federal Reserve Bank of Minneapolis, affirmed that inflation in the United States remains high and affects various aspects of the economy, not just fluctuations in oil prices. Despite the Fed’s efforts, the inflation rate continued to rise even when excluding energy and food sectors, amid ongoing price pressures. He anticipated that the restrictive monetary policy would persist to combat inflation. The Federal Reserve decided to raise interest rates to a range between 3.75% and 4%. However, inflation rates remain above the estimated 2% target, as both the Consumer Price Index and core inflation have increased, along with oil prices surpassing $100 due to energy supply disruptions linked to the war in the Middle East.
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