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The post Fed’s Hammack Backs Restrictive Policy Over Fed Rate Cuts appeared on BitcoinEthereumNews.com. Cleveland Federal Reserve President Beth Hammack has advocated for a restrictive monetary policy amid growing concerns of rising inflation . Her comment comes as Fed officials remain divided on whether they should make a Fed rate cut at the October FOMC meeting, a move that would impact the crypto market. Hammack Raises Inflation Concerns Amid Fed Rate Cut Debate Hammack stated that inflation continues to exceed the Fed’s objective and remains a concern across both headline and core categories. Speaking on CNBC, she noted that price growth remains above the Federal Reserve’s 2% objective and is not expected to return to target until the end of 2027 or early 2028. The Fed president added that pressures are most apparent in the services sector, where inflation has proven more persistent. Notably, her comments follow the first Fed rate cut of the year, two weeks ago at the September FOMC meeting.  In her remarks, Hammack said monetary policy must remain restrictive to ensure progress toward the inflation target, indicating that she doesn’t favor further Fed rate cuts for now. She explained that the Federal Reserve’s dual mandate requires balancing price stability with employment, but argued that inflation remains the greater challenge at present. “When I balance those two sides of our mandate, I think we really need to maintain a restrictive stance of policy so that we can get inflation back down to our goal,” she said. Inflation Over the Jobs Market Hammack pointed to service-related spending as an area where inflationary pressures remain strong. She explained that both headline and main price levels are still above target, with little evidence of near-term relief. She described the U.S. labor market as “reasonably healthy” and overall balanced, noting that current conditions do not show major weaknesses. However, Hammack stressed that maintaining this balance…