PANews reported on November 7th that, according to Jinshi Data, Cleveland Fed President Hamak, a voting member of the 2026 Federal Reserve meeting, stated on Thursday that persistently high inflation is not conducive to another Fed rate cut, and she is concerned that monetary policy may not be adequately prepared to address current inflation. Hamak stated that after last week's policy meeting, she believes monetary policy has virtually no constraints, and in her view, the reasons for further policy action are not immediately apparent. Hamak said the Fed continues to face inflationary pressures above its target, and the current monetary policy setting has virtually no restraining effect on economic growth. She opposed the Fed's decision to cut rates last week. Hamak acknowledged problems in the labor market but warned that the unemployment rate remains low. Federal Reserve Governor Milan said: "I want to reach the neutral rate in steps of 50 basis points; many of my colleagues want to adjust in steps of 25 basis points." Federal Reserve official Hamak stated that the boom in artificial intelligence may resemble the period of internet infrastructure development. Artificial intelligence is a structural economic transformation, not well-suited to be addressed through monetary policy. Federal Reserve Chairman Williams stated that massive U.S. investment in artificial intelligence is impacting global demand for capital. He added that artificial intelligence will present some challenges in the labor market.PANews reported on November 7th that, according to Jinshi Data, Cleveland Fed President Hamak, a voting member of the 2026 Federal Reserve meeting, stated on Thursday that persistently high inflation is not conducive to another Fed rate cut, and she is concerned that monetary policy may not be adequately prepared to address current inflation. Hamak stated that after last week's policy meeting, she believes monetary policy has virtually no constraints, and in her view, the reasons for further policy action are not immediately apparent. Hamak said the Fed continues to face inflationary pressures above its target, and the current monetary policy setting has virtually no restraining effect on economic growth. She opposed the Fed's decision to cut rates last week. Hamak acknowledged problems in the labor market but warned that the unemployment rate remains low. Federal Reserve Governor Milan said: "I want to reach the neutral rate in steps of 50 basis points; many of my colleagues want to adjust in steps of 25 basis points." Federal Reserve official Hamak stated that the boom in artificial intelligence may resemble the period of internet infrastructure development. Artificial intelligence is a structural economic transformation, not well-suited to be addressed through monetary policy. Federal Reserve Chairman Williams stated that massive U.S. investment in artificial intelligence is impacting global demand for capital. He added that artificial intelligence will present some challenges in the labor market.