Fed's Kashkari: 2% inflation target should not be changed

Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis is crossing the wires with the following key comments:

Key comments

I see inflation at middle 3% by end of this year, closer to 2% next year.
2% inflation target should not be changed.
I'm less optimistic than bond market on speed of inflation's fall.

More to come...

Meanwhile, the US Dollar index on Tuesday rose by +0.49% but there was some US Dollar weakness that was by sparked short covering in the Euro ahead of today´s key US event in the Consumer Price Index. Consumer price data on Wednesday is expected to show headline inflation rose by 0.2% in March, while core inflation rose 0.4%. The Federal Reserve is seen as likely to hike rates by an additional 25 basis points at its May 2-3 meeting, before pausing in June.