Cleveland Fed President Hammack sees AI fueling inflation, says rate hikes may be necessary
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Cleveland Federal Reserve President Beth Hammack said Tuesday that "insatiable" demand for artificial intelligence infrastructure is fueling inflation. Should that and other pressures continue to keep prices elevated, that could drive the need for higher benchmark interest rates , the central bank policymaker said in a CNBC interview. "We've got inflation that's too high, and it's been too high for the past five years," Hammack told CNBC's Sara Eisen on the sidelines of the European Central
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