Fed’s Kashkari: I’m less confident on when supply chains will ease

© Reuters. FILE PHOTO: President of the Federal Reserve Bank of Minneapolis Neel Kashkari speaks during an interview in New York, U.S., March 29, 2019. REUTERS/Shannon Stapleton

(Reuters) – Minneapolis Fed President Neel Kashkari said on Monday that supply chain issues that have helped keep U.S. inflation high are not ebbing as fast as he thought and expressed less confidence on when they will begin to ease.

“I’m confident we are going to get inflation back down to our 2% target, but I am not yet confident on how much of that burden we’re gonna have to carry versus getting help from the supply side,” Kashkari said in an interview with CNBC.

“Virtually all of that news is in the wrong direction,” he said, citing the war in Ukraine and COVID lockdowns in China.

Source: Reuters