Fed’s Hammack Flags Persistently High Inflation, Doubts One-Off Tariff Impact

Federal Reserve official Hammack warned that U.S. inflation remains “too high and trending up,” adding that the recent data show price pressures moving in the wrong direction. Hammack also questioned the conventional view that the 145% tariff on Chinese imports, which took effect in April, would deliver only a one-off bump to prices. The official suggested the levy could produce more persistent inflationary effects, underscoring the central bank’s focus on bringing price growth back to target.