Federal Reserve Bank of Cleveland President Beth Hammack said at the Jackson Hole Economic Policy Symposium on Thursday that inflation remains “too high and trending up,” calling price pressures her foremost concern four years into an elevated run above the central bank’s 2 percent target. Hammack added that the current stance of monetary policy is “close to neutral” and that she sees no evidence of a significant economic downturn that would justify easier settings. “With the data I have right now, if the meeting were tomorrow, I would not see a case for reducing interest rates,” she said, effectively ruling out support for a widely anticipated rate cut at the Federal Open Market Committee’s September meeting. She also cautioned that conventional economic theory may be underestimating the lasting effect of the 145 percent U.S. tariff on Chinese goods that took effect in April, suggesting the one-time levy could keep upward pressure on prices longer than models predict. Hammack’s remarks add to a chorus of hawkish commentary from Federal Reserve officials ahead of Chair Jerome Powell’s speech on Friday. Interest-rate futures compiled by CME FedWatch now assign roughly a 73 percent chance of a September cut, down from more than 90 percent a week earlier as traders reassess the policy outlook.