Fed/Kashkari: I'm Confident Inflation is on a Declining Trend

Minneapolis Fed President Neel Kashkari stated that he is confident inflation is moving downward, noting that today's data "supports" this downward trend. In an interview with Bloomberg TV following the release of data showing a 2.6% increase in consumer prices last month, Kashkari pointed to the decline in goods inflation, a slowdown in wage growth, and the anticipated but gradual decline in housing-related inflation due to the inclusion of new and lower rents in the data, expressing that he does not believe inflation is stuck above 2%. Kashkari emphasized the health and strength of the labor market, stating, "We are in a good place in the labor market, and we want to stay there."