Buckle Up! Cleveland Fed President Beth Hammack Just Said the Quiet Part Out Loud About Inflation.

Cleveland Federal Reserve President Beth Hammack has signaled that broad-based inflation remains a significant concern for the Fed, with Core PCE projections at 3.3%. She notes that businesses and consumers are expressing growing concerns about inflation's persistence. This hawkish stance suggests potential rate hikes ahead, which could negatively impact the highly valued stock market, particularly AI-related investments that rely on cheap debt financing for data center expansion.