🏦🇺🇸 Fed/Neel Kashkari says it's still too early to assess how the war with Iran could affect US inflation. Kashkari noted that it's necessary to "evaluate the magnitude and duration of the impact caused by the war with Iran" before any adjustments to interest rate policy. Before the conflict, he estimated inflation would be between 2.5% and 3% and expected an interest rate cut this year, but now he's uncertain about the amount of reductions. The official reiterated that inflation "remains very high, but appears to be heading in the right direction" and that the elevated reading warrants attention, given the recent trajectory. "We certainly need to achieve our 2% inflation target."