Minneapolis Fed President Neel Kashkari said the Iran war has intensified inflation, keeping it above the 2% target.
He noted the labor market remains stable but slightly improved, describing it as “lukewarm” and moving sideways.
Kashkari warned uncertainty over the Strait of Hormuz closure could prolong supply‑chain disruptions and affect inflation for months.
He affirmed the Fed will stay committed to the 2% inflation goal and stressed policy independence amid the Kevin Warch confirmation.