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Fed Official Warns Rate Hikes Possible if Inflation Surges

4/6/2026

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Summary

Story summary

Beth Hammack, a top Federal Reserve official, said rate hikes may be necessary if inflation stays above the 2% target.
She noted rising gas prices tied to the Iran conflict could slow the economy, lift unemployment, and require rate cuts.
If inflation persists, rate hikes could follow.
Inflation is projected to reach 3.5% in April.
Hammack emphasized the impact of high gas prices on consumer spending and Fed's dual mandate.

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Story summary

Beth Hammack, a top Federal Reserve official, said rate hikes may be necessary if inflation stays above the 2% target.
She noted rising gas prices tied to the Iran conflict could slow the economy, lift unemployment, and require rate cuts.
If inflation persists, rate hikes could follow.
Inflation is projected to reach 3.5% in April.
Hammack emphasized the impact of high gas prices on consumer spending and Fed's dual mandate.