KASHKARI WARNS: OIL SHOCK COULD FORCE RATE HIKES Minneapolis Fed President Neel Kashkari dissented at the latest FOMC meeting, arguing the Fed should flag potential rate hikes due to risks tied to the Strait of Hormuz. He warned a prolonged disruption could trigger a major price shock, push up inflation expectations, and require aggressive rate increases to protect the Fed’s 2% target. Even a quick resolution, he said, would likely keep inflation high enough to delay any rate cuts. Before the conflict, Kashkari expected inflation to ease and supported a possible rate cut this year.(*Walter Bloomberg)