Fed Watch: Kashkari warns U.S. inflation remains too high and is not just an oil-price story

Minneapolis Fed President Neel Kashkari's remarks that inflation remains too high and broad-based reinforce a higher-for-longer policy bias. This typically tightens financial conditions, supporting the U.S. dollar and pressuring rate-sensitive assets. The comment also reduces expectations that easing will be driven by a pullback in oil alone, implying inflation persistence across services and core categories and keeping front-end rates elevated in the near term.