Minneapolis Fed President Neel Kashkari on Tuesday reiterated the central bank’s commitment to bringing inflation under control through monetary policy tightening, and said his biggest fear is that the persistence of price pressures is underestimated.Anjali Sundaram | CNBCMinneapolis Federal Reserve President Neel Kashkari on Monday said he’s open to holding off on another interest rate hike next month, but cautioned against reading too much into a pause.”Right now it’s a close call either way, versus raising another time in June or skipping,” the central bank official said on CNBC’s “Squawk Box.” “Some of my colleagues have talked about skipping. Important to me is not signaling that we’re done. If we did, if we were to skip in June, that does not mean we’re done with our tightening cycle. It means to me we’re getting more information.”Markets currently are putting about an 83% probability that the rate-setting Federal Open Market Committee holds off on what would be an 11th consecutive increase when it convenes June 13-14, according to the CME Group’s FedWatch tracker of futures prices.Beyond that, traders see the Fed likely cutting about half a percentage point off rates before the end of the year, a nod toward inflation moving lower and the economy slowing.Central bank officials have been unified in saying they don’t expect cuts this year. Kashkari said that if inflation doesn’t come down, he would be in favor of increasing rates again.”Do we then start raising again in July? Potentially, and …
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