Overview

• Minneapolis Fed President Neel Kashkari emphasizes the need for multiple positive inflation reports before considering rate cuts.
• Recent economic data suggests that current interest rates may not sufficiently curb inflation, raising the possibility of further hikes.
• Kashkari points to the housing market's resilience as an indicator that the effective neutral interest rate may be higher than previously estimated.
• Investors adjust expectations, foreseeing no rate cuts until at least after the November election, reflecting ongoing economic uncertainty.
• Federal Reserve's decision-making remains apolitical, focusing solely on economic indicators and trends.