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Cleveland Fed’s Hammack renews call for higher interest rates
Cleveland Fed president said companies are actively seeking funding to invest and grow, which could further fuel price pressures unless the Fed provides more policy restraint.
Cleveland Fed President Beth Hammack has renewed her call for higher interest rates, saying the US central bank needs to restrain growth and investment to bring inflation down from above 3% to its 2% target.
Speaking at a Dayton Area Chamber of Commerce event, Hammack said businesses remain optimistic and eager to borrow, but cautioned that stronger expansion could create additional upward pressure on prices.
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