Kashkari Warns Fed May Need Rate Hikes on Oil Risk
Minneapolis Fed President Neel Kashkari says oil supply disruptions from the Iran conflict may require rate hikes to protect the central bank's inflation target.
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Minneapolis Fed President Neel Kashkari dissented against the Wednesday policy hold, citing oil shocks that could force a series of rate hikes. It was part of an 8-4 vote, the most divided Federal Reserve decision since 1992. A shift toward hawkishness signals that geopolitical energy risks now outweigh United States labor market concerns.
