Fed’s Hammack Says Shocks Risk an Inflationary Mindset
Cleveland Fed President Beth Hammack warned that recurring supply shocks could lead to an inflationary mindset in the U.S. economy. She emphasized the risk of such a mindset taking hold after years of elevated inflation.
Federal Reserve Bank of Cleveland President Beth Hammack said there is the risk that an inflationary mindset takes hold as the US economy faces a series of supply shocks. Hammack warned that “when the environment is more prone to shocks, or the shocks arrive one after another in a period when inflation has been elevated for years, there’s a greater risk that an inflationary mindset could take hold.” She spoke Thursday at a conference hosted by the Cleveland Fed. (Source: Bloomberg)
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