Fed’s Kashkari Warns: Large Price Shock Could Force Aggressive Series of Rate Hikes

Minneapolis Fed President Neel Kashkari warned that a large price shock could force the Fed into a series of rate hikes, a comment that nudged markets more hawkish. Bond yields ticked higher, stock futures eased and Bitcoin and other cryptos became more volatile as investors repriced policy risk for 2025. The article highlights key triggers (sharp oil spikes, supply‑chain disruptions, dollar weakness) and flags indicators to watch — commodity prices, core CPI, and Fed communications — noting the Fed could start with 25–50 bps moves. Overall, a more aggressive Fed path would be a headwind for risk assets, particularly crypto.