Hamak: The interest rate can remain unchanged for a long period

Fed Cleveland Chair Hamak believes that the wording in the Fed’s recent policy statement has hinted too early at the possibility of interest rate cuts, which does not align with her assessment of the economic outlook.

She said interest rates should be kept steady for a significant period and emphasized that the economic outlook and the upcoming policy path remain uncertain. Hamak is one of three Fed officials at last week’s meeting who opposed the phrasing suggesting the Fed might soon resume rate cuts.

Hamak stated that the length of the Iran conflict will be a key factor for the economy. According to her, rising prices could impact consumption and growth, thereby changing the assessment of the policy environment.

Her remarks indicate that there are still differences within the Fed regarding how to interpret recent policy signals. It is not yet clear how these debates will affect upcoming meetings, aside from her continued emphasis on maintaining stable interest rates.

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