Kashkari flags possible rate hikes as Fed holds at 3.50%-3.75%

The two source records do not describe the same underlying event. The older record says Minneapolis Federal Reserve President Neel Kashkari supported a 25-basis-point increase at the Federal Open Market Committee’s last meeting and warned that further U.S. rate hikes may be needed if inflation does not improve, after the federal funds target range was maintained at 3.50% to 3.75%. The newer record instead covers the Reserve Bank of Australia’s unanimous decision to keep its cash rate at 4.35% after officials debated a fourth increase, with inflation still judged too high and expected to return gradually to the 2% to 3% target only by late 2027. Both records describe policymakers balancing persistent inflation risks against evidence that policy is already restrictive, but they concern different central banks, rates and meetings.

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