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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
- Hammack's comments reflect a shift among some Fed officials away from a bias toward rate cuts.
- Fed minutes reveal several officials supported mentioning potential 'upward adjustments' to rates in January.
- Cleveland Fed estimates inflation could reach 3.5% in April, the highest since 2024.
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