TechFlow, December 12 — Cleveland Fed President Hammack said she would prefer a slightly restrictive interest rate level to continue putting pressure on inflation, which remains too high. "Currently, our policy is roughly at a neutral level," Hammack said Friday. "I lean toward a slightly restrictive stance to help maintain downward pressure on inflation." Hammack does not have a voting role this year but will become a voting member in 2026. When asked whether she supported this week's rate cut decision, she did not answer directly, calling it a "complex decision" as policymakers face cross-pressures from their dual mandate. Hammack also said she looks forward to key inflation and employment data due in the coming weeks, which could help policymakers gain clearer insight into the economic trajectory. She also noted that the Fed lacks appropriate tools to address structural changes in the economy. (Jinshi)
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