Cleveland Fed President: Keeping Interest Rates Unchanged is a Reasonable Choice

On June 3, Cryptoquant analyst Axel Adler Jr disclosed on platform X that Beth Hammack, President of the Cleveland Federal Reserve (considered one of the more hawkish officials within the Fed), stated that she currently believes maintaining interest rates at their current level is an appropriate policy choice. Hammack pointed out that the persistent inflation above the Fed's 2% target is more concerning than the risks posed by the still robust labor market. She further indicated that if the current inflation trend continues, the Fed may soon need to shift towards a more contractionary monetary policy to prevent inflation from stabilizing above the target level for an extended period.