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2025-11-01 01:30:58
[Cleveland Fed President Disagrees with This Week's Rate Cut, Warns of Remaining Inflation Risks] Cleveland Fed President Beth Hammack said she does not support this week's rate cut decision, citing persistent inflation risks. "I would have preferred to keep rates unchanged at this meeting," Hammack said at a meeting in Dallas on Friday, alongside Atlanta Fed President Raphael Bostic. "I think we need to maintain a certain level of restraint to keep inflation at the target level." Hammack's statement echoed the opinions of two other officials earlier on Friday who also disagreed with the Federal Open Market Committee's (FOMC) decision on Wednesday to cut the benchmark interest rate by 25 basis points. Hammack is not a voting member of the FOMC this year but will rotate into the voting in 2026.
