Cleveland Fed President Beth Hammack warned that deteriorating inflation expectations could force the Federal Reserve to take more aggressive monetary policy action. Speaking at a Goldman Sachs event in New York, Hammack said persistent price pressures could become harder to control if consumers and businesses begin expecting inflation to remain elevated. The key takeaway: A sustained rise in inflation expectations could require a stronger Fed response, increasing the risk of tighter monetary policy. 15-OCT-2026 05:36 PM ET