## Cleveland Fed President Signals Uncertainty on Further Rate Cuts Cleveland Federal Reserve Bank President Beth Hammack recently stated that additional interest rate cuts are "NOT OBVIOUS" given persistent inflation. This suggests the Fed may hold rates steady for longer than previously anticipated. ## Inflation Expected to Remain Elevated Hammack indicated that inflation is projected to remain above the Fed's target for several years. She estimates it will take two to three years to bring inflation back down to the desired 2% level. This timeline highlights the challenge the Fed faces in balancing inflation control with economic growth. The Fed is closely monitoring economic data to determine the appropriate course of action. ```