• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

Fed’s Hammack: Work to bring inflation to target not complete

by October 24, 2024
written by October 24, 2024

By Michael S. Derby

NEW YORK (Reuters) – Federal Reserve Bank of Cleveland President Beth Hammack said Thursday inflation pressures have been easing but still have yet to return to where they need to be.

“We have made good progress but inflation is still running above the [Federal Open Market Committee’s] 2% objective,” Hammack said at conference on inflation issues held by her bank. She did not offer a view on what she believes monetary policy should do in the future. She did note Fed rate hikes between the spring of 2022 and the summer of 2023 played a role in lowering inflation.

Echoing recent comments by Fed Chairman Jerome Powell, Hammack, who is the newest regional Fed bank president, said that despite progress on getting price pressures down it is too soon to say the job is done.

Hammack noted “it has not been a straight line of progress towards returning inflation to our 2% goal,” while adding after an uneven start to the year, “in recent months, the readings have generally improved since its peak in June of 2022.”

The policymaker also noted “remarkably, this disinflation process has progressed with notable strength in the labor market and the economy in general.”

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Nasdaq’s third-quarter profit rises on fintech strength
next post
Bank of England’s Mann says fall in inflation pressure has long way to go

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Trump implies government could cut contracts and subsidies to Musk’s companies

      June 7, 2025
    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (505)
    • Stock (6,426)

    Latest News

    • Trump implies government could cut contracts and subsidies to Musk’s companies
    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

    Popular News

    • German exports, industrial output fall more than expected
    • Morgan Stanley sees airline stocks propelled by demand, favourable fuel cost

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy