Federal Reserve's Hamark Sees No Immediate Need for Rate Adjustments

According to BlockBeats, Federal Reserve official Hamark stated that following three consecutive rate cuts in recent meetings, there is no need for further rate adjustments in the coming months. Hamark expressed opposition to the recent rate cuts, citing concerns over persistent inflation rather than potential vulnerabilities in the labor market. Although Hamark is not a voting member of the rate-setting committee this year, she will become a voting member next year. "My basic expectation is that rates can be maintained at their current level for some time, at least until spring. This will continue until we obtain clearer evidence indicating either a decline in inflation to target levels or a more substantial weakening in the job market," she said during an interview on The Wall Street Journal's Take On the Week podcast.