fintech / news / / The Associated Press
Beth Hammack, president of the Federal Reserve Bank of Cleveland, said her general preference is for the Fed keep its benchmark interest rate unchanged “for quite some.
Cleveland Fed President Beth Hammack signaled a possible rate hike if inflation stays above 2%.
KEY POINTS
- Fed officials, including Hammack and Goolsbee, are now openly considering rate increases, not just cuts.
- Cleveland Fed estimates inflation could reach 3.5% in April, the highest since 2024.
- March inflation is forecast to jump to 3.1% annually, mainly due to rising gas prices from the Iran war.
- Hammack emphasized that higher gas prices are the top concern among constituents in her district.
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