The Minneapolis Fed president, Neel Kashkari, said a series of rate increases “could be warranted” if inflation worsens due to the Middle East conflict. WASHINGTON: A key US Federal Reserve official warned Friday (May 1) that a series of interest rate hikes could be needed if price shocks from the Middle East war are larger than expected, fuelling inflation. "Federal funds rate increases, potentially a series of them, could be warranted, even at the risk of further weakness to the labour market,

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