Kashkari Says US Economic Resilience Keeps Surprising Him

Kashkari's admission of persistent surprise is itself the signal: it suggests the Fed's own models have repeatedly understated activity, which keeps the burden of proof tilted toward restraint rather than easing. The comment carries no new guidance, so its value is diagnostic, not directional. For rate-sensitive corners of crypto and tokenized real-world assets, the open question is whether resilient activity keeps delaying the pivot that those markets have priced around, or whether officials begin to treat the strength as a reason to move sooner.