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The president of the Federal Reserve Bank of Cleveland said she still sees inflation risks, citing higher oil and gas prices. Fed's Mester still views one more rate hike as appropriate [Video ...
The Fed decided last month to hold interest rates steady and maintain projections for three rate cuts this year. Officials also raised their outlook for inflation and economic growth. Read more ...
Cleveland Fed President Beth Hammack, who was the sole dissenter at the Fed’s policy meeting earlier this week, favoring a pause, said Friday she needs to see “further evidence that inflation ...
Cleveland Fed president Loretta Mester said Thursday that the latest reading on inflation doesn’t alter her calculus for three rate cuts later in 2024.. A month-over-month jump in the Fed’s ...
In fact, the Fed’s December meeting minutes showed officials believed inflation could take longer than anticipated to reach their 2% goal, citing stickier-than-expected inflation data since past ...
The Fed's preferred measure of inflation — the personal consumption expenditures price index excluding volatile food and energy prices — climbed 4.6% in February from a year earlier, data out ...
That would be well below the 40-year high of 9.1% in mid-2022 and modestly above the Federal Reserve’s 2% goal. ... But predicting a decline in the Fed's preferred inflation measure in the next ...
One official, Cleveland Fed president Beth Hammack, objected to the rate cut "in light of uneven progress in returning inflation to 2%" and argued for holding it steady.