There is no justification for reducing interest amid continued inflation

On Thursday, the Federal Reserve Chairman at Cleveland, Beth Hamak, said on Thursday that, given the current economic situation, the continued inflation problems means that the time is not appropriate to reduce the targeted interest rate for the Central Bank.

“What worries me most is that inflation was very high over the past four years, and he is now moving in the wrong direction … I brought each meeting with an open mentality,” Hamak said in an interview with “Yahoo Finance” on the sidelines of the Federal Reserve Reserve Conference in Kansas City in Jackson Hall and Wyoming. She added, “But in light of the data and information available to me, if the meeting was held tomorrow, I would not see a justification for reducing interest rates.” (Al -Sharq Al -Awsat)