Fed’s Beth Hammack Reveals Inflation Concerns As Reason For Rate Cut Dissent

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Federal Reserve Bank of Cleveland President Beth Hammack said she dissented at this week’s central bank meeting because interest rates should not have been moved higher or raised further until significant progress has been made on cooling inflation.

Hammack said rates are getting close to neutral, neither restraining nor stimulating the economy.

In November, the core PCE, which excludes food and energy costs, was up 0.1% from the prior month, compared with a gain of 0.3% in October.

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Author / Journalist: Teuta Franjkovic

Category: Crypto

Markets: India

Topics: PCE Fed 24/7 Cryptocurrency News Beth Hammack Inflation rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-20 @ 15:19:18 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 459 words

Reading Time: 3 minutes read

Sentences: 33 lines

Sentence Length: 14 words per sentence (average)

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Copyright Owner: © CoinGape

News ID: 24569382

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