Cleveland Federal Reserve President Beth Hammack warned that U.S. inflation remains “too high” and suggested she could support future interest rate increases, according to a social media post released this week. Hammack, a voting member of the Federal Open Market Committee, said discussions with business and community leaders point to broad-based price pressures driven by energy costs, supply chain issues, insurance, and the artificial intelligence boom. While consumer inflation eased to 3.5 percent in June, it has stayed above the Fed’s 2 percent target for about five years. Other Fed officials, including Lorie Logan and Philip Jefferson, have also signaled openness to rate hikes.

Prepared by Christopher Adams and reviewed by editorial team.