Federal Reserve Kashkari: Last week's bitmap forecast, nearly half of the officials expect to raise interest rates at least once more this year

Comparative news, according to the Golden Ten Data App, Federal Reserve official Kashkari said, “I am concerned about inflation. This is not only related to the situation in the Middle East, but a sign of broader inflationary pressure in the economy.” The war in Iran has boosted oil prices, and prices in many categories have also risen. This has heightened the concerns of some Federal Reserve officials that inflation is more widespread and more sustainable and may require stronger action by the central bank. A report released earlier this week showed that PCE recorded an annual rate of 4.1% in May, the biggest increase since April 2023. Prices have surpassed the Federal Reserve's 2% target for more than five years. In the bitmap forecast released by the Federal Reserve last week, half of the officials who gave the bitmap forecast expect to raise interest rates at least once this year.