The Dow fell more than 4% in September while Micron posted an 11-fold data center revenue increase and beat expectations. Kashkari stated inflation is still too high at around a 3% rate.
The company also issued better-than-expected guidance for the current quarter, though shares edged lower in premarket trading after a prior 500%+ rally over 12 months.
Kashkari noted the labor market is pretty good but not great and said the latest PCE data did not change his view that inflation is running around a 3% rate.
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