Transcript: Dr. Scott Gottlieb on "Face the Nation with Margaret Brennan," Aug. 23, 2026

On August 23, 2026, Neel Kashkari, the president and CEO of the Federal Reserve Bank of Minneapolis, appeared on the program Face the Nation with Margaret Brennan. According to transcripts released by CBS News, Kashkari addressed current economic conditions and the Federal Reserve's approach to inflation. He explicitly stated that he lacks confidence that inflation can reach the Fed's established 2% target without the implementation of a rate hike. This position highlights a hawkish outlook regarding the necessity of tighter monetary policy to stabilize prices. Coverage from multiple financial outlets, including Investing.com and Barron's, emphasizes Kashkari's views on the U.S.

Despite a surge in yields, Kashkari asserted that the Treasury market is functioning normally. Investing.com reports that the Minneapolis Fed president does not view rising Treasury yields as a primary concern at this time. Similarly, coverage from Asia Economy notes that Kashkari believes long-term yields are being determined by fundamentals rather than systemic instability, reinforcing the narrative that the market is operating as expected. The context of these statements matters because they reflect the internal tensions at the Federal Reserve regarding the 2% inflation target. Barron's underscores the specific link between Kashkari's lack of confidence in current inflation trajectories and his openness to further rate hikes.

This suggests that the path to economic stability may require more aggressive action than some market participants anticipate. The discussion on Face the Nation served as a platform for these specific policy preferences to be made public during a period of yield volatility. Observers will be monitoring whether other Federal Reserve officials align with Kashkari's view on rate hikes to reach the inflation target. Based on the reports from CBS News and financial news services, the focus remains on whether the Treasury market continues to function normally despite the yield surge. Future updates will likely center on the actual movement of long-term yields and any official policy shifts that reflect the hawkish sentiments expressed by the Minneapolis Fed president during his interview with Margaret Brennan.