Cleveland Fed President Hammack Warns on Inflation, Says Core PCE at 3.3%

According to Yonhap News, Cleveland Federal Reserve President Beth Hammack expressed concern about elevated inflation on LinkedIn on July 17, stating that inflation remains too high and core personal consumption expenditures (PCE) are estimated at 3.3% year-over-year. Hammack noted that the labor market is near her maximum employment estimate and that persistent high inflation is becoming a greater concern. She added that businesses are increasingly asking the Fed to take action to curb inflation, while consumers face growing desperation. Hammack, who took office in August 2024, has consistently voted hawkishly, including dissenting against rate cuts last December.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments