Shafaqna English- Beth Hammack, president of the Cleveland Fed, added her voice on Friday(17 Jul 2026) to an expanding camp of officials who argue that further rate hikes may be necessary to rein in stubborn inflation. This positions the Fed’s next policy meeting for a contentious discussion, with potential dissents looming over Kevin Warsh’s second gathering as chairman.
According to Hammack, who began her tenure at the Fed in 2024—after the central bank had wrapped up its campaign of sharp rate hikes to fight post-pandemic inflation—she is now hearing for the first time from businesses urging action against inflation and from consumers facing financial hardship who express a deepening sense of despair.
Source: Reuters