Fed’s Kashkari projects one interest-rate hike this year. Here’s what changed his mind.

Minneapolis Fed President Kashkari now expects just one interest-rate hike this year, a shift influenced by uncertainties surrounding the U.S.-Iran peace deal and escalating AI capabilities. These geopolitical and technological factors have prompted a reassessment of economic conditions. This change in perspective could have broader implications for financial markets and economic policy, as central banks adjust their strategies in response to evolving global dynamics.