By Ann Saphir
(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari on Thursday said he has “dramatically” shifted his view of inflation over the last six months, and he has now penciled in seven quarter-point interest rate hikes this year to help rein it in.
“We need to adjust,” Kashkari told the Fargo-Moorhead Chamber of Commerce’s Midwest Economic Outlook Summit, because inflation is not proving as temporary as he had thought it would be. “The data just keeps coming in in that direction, and we just have to respond.”
(Reporting by Ann Saphir)
