Federal Reserve's Harker: High inflation risks, opposes further rate cuts

According to Jin Ten, in 2026, Federal Reserve voting member and Cleveland Fed President Mester stated that the persistently high level of inflation is detrimental to the Federal Reserve's ability to cut interest rates again, expressing concerns that monetary policy is not adequately prepared to address the current inflation. She pointed out that the current monetary policy is almost non-restrictive and there is no clear reason to take further policy action. Mester opposed the Federal Reserve's decision to cut interest rates last week and warned that the unemployment rate remains low.