#fed #yahoofinance #bethhammack #fomc
On Wednesday, the Federal Reserve announced a decision to cut interest rates by another 25 basis points. However, not all members of the Federal Open Market Committee (FOMC) were in agreement with this move. Cleveland Fed President Beth Hammack dissented, advocating for keeping rates steady rather than implementing a cut.
Yahoo Finance Fed reporter Jennifer Schonberger explores Hammack’s reasoning, highlighting her concerns that the central bank still has more work to do in addressing inflation and bringing it down to its 2% target.
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This post was written by Angel Smith
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