NEW YORK, Sept 30 (Reuters) – Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday that he expects the central bank to raise rates again, although it depends on how the economy performs, amid a very necessary effort to bring inflation back to target.
Projecting more interest rate hikes at the September Federal Open Market Committee meeting “is a snapshot in time based on information we had on that Wednesday of the meeting,” Kashkari said at an appearance before the Council on Foreign Relations in New York.
“My basic takeaway on the inflation data is that inflation is still too high” and the latest round of data doesn’t change that story, he said.
(Reporting by Michael S. Derby; Editing by Mark Porter)
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