Neel Kashkari and the Feds inflation fears
Overall, inflation has plummeted since June 2022, shortly after the Federal Reserve began hiking interest rates, and the Fed is getting closer to its 2% target.\xa0But consumer prices are still high. So why is it taking so long for the Fed to cut interest rates? “The Federal Reserve has been faked out before, where we thought inflation was licked, and then it flared back up again,” Neel Kashkari, president of the Minneapolis Fed, told us on today’s show. “That\u2019s what we want to avoid.” Also: What to expect when Amazon replaces Walgreens on the Dow, how congressional budget fights threaten federal firefighters\u2019 pay, and why the U.S. is selling its helium reserve.