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Beth Hammack, president of the Federal Reserve Bank of Cleveland, said a hike could become necessary if inflation stays stubbornly high.
Beth Hammack signaled a possible interest rate hike due to Iran war-driven fuel inflation.
KEY POINTS
- Fed's inflation forecast for April could reach 3.5%, the highest since 2024.
- Gas prices have risen 80 cents in a month, now averaging $4.12 per gallon nationally.
- Fed minutes from January revealed several members supported language about potential rate increases.
COMPANIES
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