Federal Reserve Bank of Cleveland President Beth Hammack stated that the U.S. central bank is not in a rush to adjust interest rates this year, with a positive outlook for economic activity. She indicated a preference for maintaining the current interest rate setting to observe economic developments. Despite a bright economic outlook, Hammack highlighted concerns about inflation levels remaining too high. The Fed reduced its target by 75 basis points last year to support job market conditions. Hammack expressed caution about potential rate cuts and the need for easing price pressures amid risks of inflation remaining elevated.

Read more at Yahoo Finance: Fed’s Hammack says interest rates could be on hold ‘for quite some time’