# Beth Hammack, President of the Federal Reserve Bank of Cleveland, suggested in remarks to The Associated Press that evolving economic conditions could force the Fed to act in either.

*business · news · 2026-04-07 · The Economic Times*

## Key points

- Cleveland Fed President Beth Hammack signaled possible rate hikes if inflation stays elevated.
- Recent Fed meeting minutes reveal several policymakers are open to upward rate adjustments.
- Internal Cleveland Fed estimates suggest near-term inflation could reach levels not seen since 2024.
- The Iran conflict has sharply increased U.S. fuel prices, complicating the Fed's inflation outlook.
- Upcoming inflation data may show the strongest monthly price gains in several years.

**Companies:** Seagate Technology Hldgs, Monolithic Power Systems, AppLovin, VeriSign
**Countries:** United States, Iran

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/markets/us-stocks/news/us-stock-market-fed-faces-tough-trade-off-as-inflation-and-growth-risks-collide/articleshow/130075685.cms)

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