Minneapolis Federal Reserve President Neel Kashkari said inflation remained too high after August personal consumption expenditures inflation reached 3.4% and core PCE inflation stood at 3%. He supported the Federal Open Market Committee's quarter-point rate increase at its September 15-16 meeting, which lifted the federal funds target range to 3.75%-4%, and said policymakers would do what was needed to restore inflation to the 2% objective. Kashkari said the U.S. economy remained resilient despite tariffs, trade conflict and Middle East tensions; second-quarter GDP growth was revised to a 2.2% annual rate from 1.5%, while growth in the first half was about 2.4%. He did not specify how high rates would need to rise, and future decisions will depend on incoming data, the economic outlook and the balance of risks. Financial markets priced another quarter-point increase this year, although the implied probability of an October move fell to about 37% from roughly 70% a week earlier.