Fed’s Hammack Is Still Worried About Outlook for US Inflation

Federal Reserve Bank of Cleveland President Beth Hammack said inflation that could stay above target until 2028 is a concern for her as she argues against interest-rate cuts.

Speaking in an interview with CNBC from Frankfurt, the policymaker observed that the central bank has missed its 2% goal for more than 4 1/2 years, and is likely to keep doing so for some time.