Neel Kashkari, President of the Minneapolis Federal Reserve, addressed the St. Paul Area Chamber event, indicating that the U.S. labor market is showing signs of improvement compared to earlier this year. However, he expressed concerns about inflation, which has been worsened by the ongoing conflict in Iran. Kashkari emphasized the Fed's commitment to reducing inflation, stating, "We are dead serious about getting inflation back down." He was one of three policymakers who dissented during the Fed's April meeting, advocating for a statement that would allow for potential interest rate hikes rather than solely focusing on cuts. As the U.S. Senate prepares to confirm Kevin Warsh as the new Fed chair, Kashkari noted the significant influence the chair has in setting the agenda, while also emphasizing that the chair is just one of twelve voters on interest rate decisions.