The Zhitong Finance App learned that Cleveland Federal Reserve Chairman Hamak reiterated on Thursday that the Federal Reserve needs to further raise interest rates to cope with demand pressure and continued high inflation brought about by the artificial intelligence (AI) investment boom. She believes that the Federal Reserve should adjust monetary policy to a restrictive level and prefer to gradually tighten policy through smaller and more frequent interest rate hikes rather than adopt more aggressive interest rate hikes.

The Zhitong Finance App learned that Cleveland Federal Reserve Chairman Hamak reiterated on Thursday that the Federal Reserve needs to further raise interest rates to cope with demand pressure and continued high inflation brought about by the artificial intelligence (AI) investment boom. She believes that the Federal Reserve should adjust monetary policy to a restrictive level and prefer to gradually tighten policy through smaller and more frequent interest rate hikes rather than adopt more aggressive interest rate hikes.