Fed's Kashkari had said: The Fed could potentially wait until 2025 to lower rates

Minneapolis Fed President Neel Kashkari stated that the Federal Reserve should wait for more certainty regarding the decline in inflation before considering interest rate cuts, suggesting a possible delay in such actions until after 2024.

When asked about the appropriateness of maintaining current interest rates this year in light of unexpected increases in inflation, Kashkari responded with a "potentially," during an interview on Fox News Channel.

"I’m in the view of, we need to wait and see, be patient as long as it takes, until we get convinced that inflation is on its way back down to 2%," he added.

Kashkari, known for his more cautious approach to monetary policy, has been considered one of the more hawkish members of the Fed in recent years. He is not a voting member on rate decisions this year.