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Cleveland Fed Leaders Resist Rate Cuts Amid Inflation Concerns

8/23/2025

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Summary

Story summary

Cleveland Fed President Beth Hammack is hesitant to lower interest rates amid persistent inflation.
She advocates for a restrictive policy to manage inflation, which has surpassed targets for four years.
Hammack's assessment of the "neutral" interest rate is higher than that of most Fed officials.
Kansas City Fed President Jeffrey Schmid also expressed doubts regarding potential rate cuts.

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Story summary

Cleveland Fed President Beth Hammack is hesitant to lower interest rates amid persistent inflation.
She advocates for a restrictive policy to manage inflation, which has surpassed targets for four years.
Hammack's assessment of the "neutral" interest rate is higher than that of most Fed officials.
Kansas City Fed President Jeffrey Schmid also expressed doubts regarding potential rate cuts.