Fed's Hammack wants to see more inflation progress before backing rate cuts

Jul. 14, 2025 11:45 AM ETBy: Max Gottlich, SA News Editor3 Comments
Federal Reserve Bank in Washington DC

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Federal Reserve Bank of Cleveland President Beth Hammack said Monday that inflation has not yet cooled enough to justify interest-rate reductions and urged patience amid trade policy uncertainty.

“We’re not there yet on the inflation side of the mandate,” Hammack said

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