Fed's Hamak: More worried about persistently high inflation, inclined to keep the Interest Rate stable until spring.

On December 21, Fed's Hamarck stated that there is no need for any adjustments to the Intrerest Rate in the coming months after consecutive rate cuts in the past three meetings. Hamarck opposes recent rate cuts, as she is more concerned about persistently high inflation rather than potential weaknesses in the labor market. Hamarck is not a voting member of the rate-setting committee this year but will become a voting member next year. “My basic expectation is that we can maintain the Intrerest Rate at the current level for a while, at least until spring. Until we have clearer evidence that either inflation is falling back to target levels or the labor market is showing more substantial weakness,” she said in an interview on Thursday for the Wall Street Journal's Take On the Week podcast. (Jin10)