The Latest Breaking News from Neel Kashkari

London (AFP) - Stocks mostly resisted worries about inflation and interest rate hikes on Thursday despite officials warning on the need to keep fighting stubbornly high inflation.

"All things being equal, that means we'd have to do more with our other tools," Minneapolis Fed President Neel Kashkari says.

The price of frozen lasagna is a great way to measure inflation, according to a Federal Reserve official.

Hong Kong (AFP) - Most markets rose Wednesday but traders remained on edge after Federal Reserve boss Jerome Powell reiterated that inflation was coming down but interest rates might need to go higher than expected to get it under control.

MINNEAPOLIS — One of Neel Kashkari's unofficial barometers of inflation is a big tray of frozen lasagna.

“Why did we miss it?” Minneapolis Federal Reserve president Neel Kashkari wrote in a Wednesday article when discussing the rise of inflation. His answer: “surge pricing inflation.”

The solid U.S. jobs report for October underscores why the Federal Reserve needs to keep raising interest rates higher than it had previously forecast to control inflation, says Neel Kashkari, president of the Federal Reserve Bank of Minneapolis

When interest rates go up, bonds go down. Investors’ expectation that more interest rate hikes are ahead also leads to the selling of fixed-income instruments. 

The Fed's consistent rate hikes have wreaked havoc across markets. However, fundamentally solid stocks Pfizer (PFE) and CVS Health (CVS) survived the market volatility pretty well. While these stocks are good additions to your portfolio, you would have benefited more had you invested in them earlier. Read on….

The Dow Jones fell as Fed official Lisa Cook touted rate hikes. Marijuana stocks such as Tilray jumped on a Joe Biden move. GE stock fell.

Federal Reserve Governor Lisa Cook says more interest rate increases will be necessary to wrestle inflation under control