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Fed's Hammack: Inflation is too high and the trend is in the wrong direction
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Federal Reserve Bank of Cleveland President Beth Hammack estimated on Monday that inflation will not drop to the 2% target before the end of 2027 or early 2028, citing upside pressure, particularly in services, and uncertainty surrounding the impact of tariffs. Speaking to CNBC, she insisted that the Fed must maintain a restrictive monetary policy. Hammack ...