Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday his biggest fear is that the U.S. central bank misreads the extent and persistence of price pressures and will need to deliver even more aggressive rate hikes to control inflation.
Kashkari is already the most hawkish of all the central bank’s 19 policymakers and expects the Fed to need to lift its policy rate, now at 2.25 percent–2.5 percent, another two full percentage points by the end of next year.
