The Slowdown We Need But Fear Cleveland Federal Reserve President Beth Hammack has recently warned about the need for multiple interest rate hikes to tame inflation, leaving many wondering if the central bank is finally taking a more aggressive stance against price increases.
This warning reflects a broader economic reality and is not just a call to action. The current inflation rate stands at 3. 3% on the core Personal Consumption Expenditures index and 2.
6% for the core Consumer Price Index (CPI). These numbers, while higher than the Fed's target of 2%, have significant long term implications for the economy.