Back to today’s briefing

Story perspectives

Fed's Hammack Warns Inflation to Persist Until 2028

9/30/2025

49 8

Summary

Story summary

Beth Hammack, president of the Federal Reserve Bank of Cleveland, warned at Jackson Hole on September 29, 2025 that inflation remains above target.
She expects inflation to stay above target until late 2027 or early 2028, driven by services.
She calls for a restrictive policy stance despite rate cuts and warns a shutdown could depress GDP, emphasizing independence.

1 of 1

Story summary

Beth Hammack, president of the Federal Reserve Bank of Cleveland, warned at Jackson Hole on September 29, 2025 that inflation remains above target.
She expects inflation to stay above target until late 2027 or early 2028, driven by services.
She calls for a restrictive policy stance despite rate cuts and warns a shutdown could depress GDP, emphasizing independence.