Neil Kashkari: Inflation pressure in the United States has spread to various sectors of the economy

Minneapolis Federal Reserve President Neil Kashkari stated that inflationary pressures in the United States have exceeded the range of oil price shocks and spread to multiple sectors of the economy, with signs of inflation in the service sector as well. The Federal Reserve has the responsibility to lower inflation to the target level and has the tools to achieve the target. The US economy has shown resilience and the labor market remains strong. (Source: Golden Ten Data)