Federal Reserve's Hamak: U.S. inflation may ease gradually

Cleveland Federal Reserve Chair Betsy Hahamack stated that US inflation may gradually slow down to approach 3% by the end of the year, while remaining above the 2% target. Her comments suggest that interest rate hikes remain necessary to curb inflation, although returning inflation to the target may take time. Continued rising prices could keep interest rates high or even lead to further increases for a longer period. This comes amid data showing that the core inflation rate (personal consumption expenditures index) reached 3.7% in July, with underlying inflation still above the Federal Reserve's target, reflecting the challenge of steering monetary policy effectively.

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