Fed rate cut dissenter, Beth Hammack, says 'there is more work to do on inflation'

Published On Dec 20, 2024, 9:00 AM

Beth Hammack, president of the Cleveland Fed, expressed dissent against the recent rate cut by the Federal Reserve, stating that more work is needed to address inflation. She emphasized that monetary policy should remain slightly restrictive, pointing out that while inflation has decreased from its peak in 2022, it still needs sustained efforts to reach the Fed's 2% target. Recent data shows that inflation remains sticky despite some signs of slowing down.