Federal Reserve Hamak: More concerned about persistently high inflation, prefers to keep interest rates stable until spring

Ms Hammarck, the Federal Reserve, said there was no need for any rate changes in the coming months after the central bank cut interest rates in a row at the past three meetings. Ms Hammarck, who is not a voting member of the rate-setting committee this year but will do so next year, opposes the recent rate cuts because she is more concerned about stubbornly high inflation than potential labour market fragility. "My baseline expectation is that rates can be held at current levels for some time, at least into the spring, until we have clearer evidence that either inflation is coming back down to target or there is more substantial weakness in the jobs market," she said in an interview with the Wall Street Journal's Take On the Week podcast on Thursday.