Feds Kashkari:Appropriate to continue interest rate hikes at least atthe next few meetings

• Appropriate to continue interest rate hikes at least at the next few meetings until confident inflation has peaked
• increasing evidence that inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term may have peaked
• Fed should then hold target interest rate and says his forecast is that would be at 5.4%
• won't know if that is high enough until fed pauses for a reasonable period of time
• once Fed allows for policy lag effects, can then assess if rates need to go higher or remain at peak for longer
• in this phase any sign of slow progress on lowering inflation will require taking policy rate potentially much higher
• Fed can consider cutting rates only once convinced inflation well on its way back down to 2% target
• Fed must avoid cutting rates prematurely and having inflation flare up again as that would be a costly error

A year ago, Kashkari was one of the more dovish of the Fed officials arguing consistently that inflation was a transitory. Now he targets the terminal rate above what the Fed had set at their December meeting of a 5.1%, and has shifted his chatter toward the more hawkish side.

US stock futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term are dipping a bit.

The NASDAQ is up around 65 points now. The Dow Industrial Average is up around 100 points. The two year yield is down around seven basis points and the 10 year is still down -11 basis points.

Kashkari is one of the first Fed officials to speak following the Christmas/new year holiday. I noticed that Feds George will be on CNBC tomorrow at 8:30 AM.

Later today, the Fed will release the minutes of their December meeting where they raise rates by 50 basis points to 4.25% to 4.5% slowing the pace of the tightenings in the process.