Svmuu News Federal Reserve Official Kashkari stated, “I am concerned about inflation; this is not just related to the situation in the Middle East, but is a manifestation of broader inflationary pressures in the economy.” The war in Iran has driven up oil prices, and prices in numerous categories have also risen.This has intensified concerns among some Federal Reserve officials that inflation is more widespread and persistent, potentially requiring stronger action from the central bank. A report released earlier this week showed that the annual PCE inflation rate for May came in at 4.1%, marking the largest increase since April 2023.Prices have exceeded the Federal Reserve 2% target for more than five years. In the dot plot projections released last week by Federal Reserve, half of the officials providing projections expected at least one interest rate hike this year. (Jinshi Data APP)