Kashkari says inflation remains too high, expects one rate hike each in this year and 2027

Federal Reserve's Kashkari stated that although the latest data shows inflation is lower than economists expected, rising prices remain a concern. Kashkari said: "The inflation rate is still too high. There are many different measures of inflation, but it is currently around 3%. Inflation has remained elevated for more than five years. I don’t think the latest published inflation data has significantly changed this situation." Kashkari also mentioned that other economic data released on Wednesday, including consumer spending and GDP data, all show that the US economy is "resilient." Regarding interest rates, Kashkari admitted: "My expectation is for another rate hike this year and another in 2027. The Federal Reserve’s rate hikes are unlikely to significantly impact the investments of ultra-large-scale cloud computing enterprises. The recent increase in bond yields is a global phenomenon."