Cleveland Fed’s Hammack Says Inflation Pressures Are Broad, Core Services Still High
JH Kim
Summary
- Beth Hammack, president of the Federal Reserve Bank of Cleveland, said elevated inflation is emerging across the economy rather than being limited to specific items.
- Hammack said core services inflation remains high, showing that price pressures in the services sector have yet to ease.
- Hammack emphasized that current inflation trends should be assessed by looking at the broader rise in prices, not just a few individual categories.
Forecast Trend Report by Period
Beth Hammack, president of the Federal Reserve Bank of Cleveland, said inflation pressures are emerging across the economy rather than being confined to a few specific items.
On July 30, Hammack said she views elevated inflation as a broad-based phenomenon, according to Walter Bloomberg.
She added that core services inflation remains high, indicating that price pressures in the services sector have yet to ease.
Hammack also emphasized the need to look at overall price increases, not just a few categories, when assessing current inflation trends.
JH Kim
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