Kashkari maintains hawkish stance despite softer PCE data

Minneapolis Fed President Neel Kashkari stated that inflation remains too high despite recent PCE data showing a cooling trend. The latest personal consumption expenditures price index indicated a moderation in inflationary pressures. Kashkari is scheduled to discuss the economic outlook and policy implications in an interview with CNBC on Wednesday. Market participants are monitoring the upcoming interview for further clarity on the Fed's interest rate path.