Cleveland Fed President Beth Hammack renewed her call for higher interest rates at the Jackson Hole annual symposium, citing recent data showing inflation running around 3% annualized. A voting member of the FOMC this year, she was one of three dissenters at the July meeting who preferred a quarter-point hike instead of holding rates in the 3.5%-3.75% range. She said inflation has exceeded the Fed’s target for more than five years, straining household budgets and risking an inflationary mindset taking hold among the public. Market pricing, however, indicates the Fed will stay on hold until December.
Source: Read the original article
