Hammack Warns Against Further Rate Cuts, Signaling Potential for Inflationary Pressures

Cleveland Fed President Beth Hammack has expressed concern that continued rate cuts by the Federal Reserve could prolong inflationary risks in the U.S. economy. Her remarks at the Economic Club of New York suggest higher interest rates might persist, impacting financial markets and potentially increasing volatility in cryptocurrencies. Hammack’s warning comes after the Fed recently lowered rates by a quarter-point. )