Kashkari: Inflation broad-based, Fed to act; oil not sole driver

Minneapolis Fed President Kashkari stated inflation remains very high across the US economy, not just in volatile energy and food sectors, signaling the Fed will continue its tightening efforts. This reinforces the Fed's hawkish stance amid persistent price pressures, suggesting further rate hikes are likely. The comment underscores that underlying inflation is broad-based, challenging market expectations of a near-term pivot.