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11 Apr 2025

Fed's Kashkari: Not seeing evidence yet that long-run inflation expectations are rising

In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari said that their job is to make sure that inflation expectations don't rise, per Reuters.

Key takeaways

"Not seeing evidence yet that long-run inflation expectations are rising."

"Investors may believe that if trade deficit is going to come down, US may not be as attractive an investment."

"There may be credibility to the story of investor preferences shifting."

"I think we're quite a ways away from market conditions we saw in pandemic."

"Ultimately we have the ability to manage some of these transitions, can smooth out dislocations."

"We cannot determine where yields ultimately settle, only can smooth the transition."

"There was a lot of good news under the hood in CPI."

"The effect of tariffs suggest inflation will be going back up again, our job to ensure it doesn't turn to long-term inflation."

"If we hadn't had 4 years of high inflation, I'd be more comfortable taking a look-through approach."

"With inflation still elevated, it makes me nervous about taking that one-time look-through approach on tariffs' effect on inflation."

Market reaction

The US Dollar struggles to rebound following these comments. At the time of press, the USD Index was down 1.1% on the day at 99.77.

Apr 11, 2025

Mexico Industrial Output (YoY) came in at -1.3%, above expectations (-3.9%) in February

Mexico Industrial Output (YoY) came in at -1.3%, above expectations (-3.9%) in February
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Apr 11, 2025

US Dollar pares losses, DXY holding near thee-year lows

The US Dollar Index (DXY) bounced from a fresh three-year low of 99.02 achieved on Friday amid escalating tensions between China and the United States (US). The index currently hovers around 99.70, sharply down for a second consecutive day.
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