Fed's Kashkari: Seeing almost no evidence that inflation has peaked

"If we get help from the supply side, I'm more optimistic about avoiding a recession," Minneapolis Fed President Neel Kashkari said on Thursday and reiterated that he was hopeful they could bring inflation down without causing a recession, as reported by Reuters.

"We have more work to do on inflation," Kashkari added and noted that he was not worried about stagflation. 

Market reaction

The greenback continues to gather strength against its rivals during the American trading hours on Thursday. As of writing, the US Dollar Index was up 0.55% on a daily basis at 111.80.

Additional takeaways

"I am very confident we'll get through this moment."

"This moment might be a year or two."

"The economy is sending mixed signals."

"There's a lot of policy tightening that still has to work its way through the economy."

"There is a risk of overshooting but we are seeing almost no evidence that inflation has peaked."

"I am not comfortable saying we are going to pause until we see evidence that underlying inflation is cooling."

"We are quite a ways away from a pause."