Fed's Kashkari says central bank should raise interest rates now to avoid 'entrenched inflation problem'

Federal Reserve official Kashkari asserts that the central bank should increase interest rates immediately to prevent an entrenched inflation problem. Similarly, Fed governor Lisa Cook stated she is prepared to act on interest rates if inflation remains elevated. Both officials emphasize the necessity of proactive monetary policy adjustments to stabilize the economy and ensure that inflation does not become a permanent fixture, reflecting a cautious approach toward managing current economic pressures and price stability.