Cleveland Fed President Hammack Advocates for Restrictive Rates to Combat Persistent Inflation

Federal Reserve Bank of Cleveland President Beth Hammack stated on Thursday that benchmark interest rates must move into restrictive territory to control persistent inflation. Speaking at the SNB and Its Watchers Conference in Zurich, Hammack emphasized the need for measured, frequent policy adjustments to prevent the central bank from falling behind the curve, noting that September headline and core PCE inflation remained above the Fed's 2% target.