The US Federal Reserve has raised new concerns about inflation.
Cleveland Fed President Beth Hammack noted that inflation in services remains elevated and troubling. She emphasized that tariffs are playing an important role in keeping prices high. While the labor market still appears steady, she pointed out signs of underlying weakness. Hammack also cautioned that moving too quickly on rate cuts could add more heat to the economy, especially given that inflation has stayed above 2 percent for the past four years. These warnings come as Donald Trump continues his criticism of Fed Chair Jerome Powell.
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