Minneapolis Fed Pres. Kashkari: Inflation is too high

May 13, 2026
-FXnews

Fed Pres. Kashkari is speaking and says

Inflation is too high
A huge question mark about how long Strait of Hormuz will be closed, that will have a big effect on inflation.
Fed needs to get back to 2% inflation, should not move the goalposts.
Before the Iran conflict, had confidence that the inflation was heading back down to 2%.
Labor market moving sideways, lukewarm
Iran shop has upended inflation environment
Labor market looks like it’s hanging in there
Not sure if it’s policy rate decisions will have much effect on mortgage rates.
Even if the Strait of Hormuz reopens, it will be months before supply chains reach normality.
Not surprised by headline inflation rise, what matters is how persistent the Strait closure is

Minneapolis Fed Pres. Kashkari: Inflation is too high

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