The Federal Reserve (Fed) carried out in its last meeting of the year, held this Wednesday, a new rate cut of 25 basis pointsup to the fork between the 4.25%-4.5%. However, the decision was not unanimous since Cleveland Fed President Beth Hammack voted against since he considers that inflation remains «high» and that progress in reducing it has been «uneven.» «Based on my estimate that monetary policy is not far from a neutral stance, I prefer to keep politics stable until we see more evidence that inflation is resuming its path towards our target 2%,» he explained. For Hammack, maintaining rates in this monetary conclave would have been the best decision «given the strength of recent economic datathe accommodative financial conditions and my forecast that inflation will remain just above 2% over the next year amid a healthy labor market«. «The momentum in the economy and the recent high inflation readings caused me to revise upward my inflation forecast for next year. Furthermore, the balance of risks to the outlook appears to be skewed towards higher inflation outcomes. Stagnating inflation above 2% for too long could de-anchor inflation expectationswhich would make it difficult for inflation to return to our objective,» he emphasized. However, Hammack believes that His decision was «very difficult» and that he hopes to continue collaborating «in the service of the American public as we seek the best course for monetary policy to achieve our dual mandate objectives: maximum employment and price stability.»