Live On CNBC, Fed's Hammack Says Most Recent Inflation Number Was As Expected; Now Is Time To Act Given Persistence Of Inflation; Does Not See Fed Policy Providing Restriction For Economy; Appropriate For Fed To Act To Lower Inflation; Above Target Has Been Persistent Amid Questions Of How Shocks Will Play Out; Says The Main Worry Is That Public Will Lose Confidence Inflation Will Return To 2%
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Why It Matters
A Federal Reserve official said inflation is still higher than they want it to be, so they think the Fed should act now to bring prices down. People are watching to see if the Fed's actions will help without hurting jobs and the economy.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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