Interest rates still might not be high enough to quell inflation, Minneapolis Fed president says

• Minneapolis Fed President Neel Kashkari suggested interest rates are likely to stay put for an extended period.
• Resilient housing inflation shows that Fed policy may still not be restrictive enough, he said. 
• Strong housing demand suggests the neutral rate for the housing market may have risen since the pandemic.

There are signs that the Federal Reserve's inflation crusade may still not have restricted policy enough to bring down high prices, Minneapolis Fed President Neel Kashkari said Tuesday.