Federal Reserve's Hamak: The Fed has no urgent need to cut interest rates this year.

Cleveland Federal Reserve President Hammark said on Tuesday that the Fed has no urgent need to adjust its interest rate policy stance this year, given its "cautiously optimistic" view of economic activity. Given the likely outlook, "we're likely to keep the target range for the interest rate unchanged for quite some time." She stated, "I think we're in a good position to keep the federal funds rate at its current level and see how things develop," adding that monetary policy is most likely to remain on a stance that neither inhibits nor stimulates economic activity. "Rather than trying to fine-tune interest rates, I prefer to remain patient as I assess the impact of recent rate cuts and observe economic performance." Hammark noted that the economic outlook remains positive, but emphasized that inflation is still "too high," adding that with the risk that inflation could remain around 3% this year, a decline in price pressures is crucial. Regarding hiring, relevant information indicates that the current situation is relatively stable.