Fed’s Hammack Signals Support for Gradual Rate-Hike Path

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The president of the Cleveland District of the Federal Reserve (Fed), Beth Hammack, said on Thursday that a higher interest rate in the short term is needed to reduce inflation, in comments that seemed to oppose any pressure to increase interest by 0.5 percentage point at the early December meeting. Exclusive material for subscribers. To have full access, access the link of the subject and register.

bloomberght.com

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Cleveland Fed President Beth Hammack reiterated her view that higher interest rates are needed to combat inflation in the face of demand pressures driven by investments in artificial intelligence.