Hammack Pushes for Rate Hikes Amid Stubborn Inflation | Business and Finance News

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Recorded27 Aug 2026

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Cleveland Fed President Beth Hammack is urging the central bank to hike interest rates again, arguing that persistent inflation—still hovering around 3%—remains far from target and demands immediate action. Speaking at Jackson Hole, she emphasized that slowing monthly increases don’t mean the problem is solved, and delaying could lock in higher prices through expectations. While the Fed majority held off last month, Hammack warns that prolonged inflation deepens economic pain and erodes consumer confidence. She cited real-world struggles of workers earning decent wages yet still falling short on essentials, and noted that global shocks and tech demand may have longer-term impacts. Despite her push, markets still expect rate hikes to be delayed until December. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/67ba957ff7747125

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