Fed's Kashkari basically admitting what everyone already feels at the grocery store and gas pump—inflation isn't just an oil story anymore, it's everywhere.

His take: if geopolitical tensions ease up, growth could help cool things down naturally. Translation: the Fed's hoping they won't have to keep hammering rates if disinflation kicks in on its own.

Markets love the word "easier." But hoping isn't a policy. We'll see if reality cooperates.