Fed Cleveland Chief Calls for Rate Hike
The President of the Cleveland Federal Reserve, Bet Hamed, confirms that inflation remains far from the 2% target, and that maintaining inflation levels around 3% requires raising interest rates swiftly to protect households and prevent the inflation mentality from becoming entrenched. She called for tightening monetary policy, noting that current financial conditions are not restrictive enough and that interest rates are expected to move toward 3.75% during the September and October meetings, amid pressures from geopolitical tensions and rising demand for artificial intelligence technology.
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