The Cleveland Fed President Beth Hammack crossed the wires on CNBC on Thursday as the Jackson Hole Symposium, begins.
She was hawkish, saying that the recent inflation figure was expected, that “now” is the time to tackle persistent inflation and that monetary policy is not restrictive for the economy in the United States (US)
Key highlights: Most recent inflation number was as expected – CNBC Now is time to act given persistence of inflation. I do not see Fed policy providing restriction for economy. Above target has been persistent amid questions of how shocks will play out.
The main worry is that public will lose confidence inflation will return to 2%. Contacts highly concerned about inflation and living expenses Concerned inflationary mindset may be taking hold You recognize neutral monetary policy when you see it Neutral rate seen higher than other Fed officials My neutral rate projection on upper end of committee range US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the British Pound.