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2025-08-02 00:00:22
Fed Holds Rates Steady, Cleveland Fed President Focuses on Inflation Deviations: Cleveland Fed President Beth Hammack expressed support for the Fed's decision to hold interest rates steady, despite slowing job growth in July, with only 73,000 new jobs added. She emphasized that inflation deviations far outweigh employment deviations, and that the Fed must prioritize inflation risks. Hammack stated that policy needs to be flexibly adjusted based on the magnitude and duration of forecast deviations. (Dow Jones)
