Fed Official Advocates for Rate Increase

The President of the Cleveland Federal Reserve, Betsy Hahamack, confirmed that the current interest rates are not sufficient to effectively reduce inflation, and that measures need to be taken to raise interest rates to calm inflationary pressures. She explained that when inflation remains above the target for a longer period, it becomes more difficult to bring it down later, and that officials are considering raising interest rates to strengthen control over inflation, despite interest rates remaining unchanged for the fifth consecutive time. Data shows that inflation stabilized at 3.7% annually in July, amid continued increases in cost of living, supporting the need for further measures to contain inflation.

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