Dossier
Cleveland Fed
Coverage of Cleveland Fed in the Nexus archive.
- Cleveland Fed president is urging an immediate rate hike to rein in inflation
A Cleveland Fed president urged an immediate rate hike as a method to rein in inflation. Beth Hammack, one of three dissenters at the Fed's July meeting, stated that inflation must return to 2% faster than its current path allows.
- Cleveland Fed's Hammack says AI spending is fueling inflation, warns rate hikes may be needed
Beth Hammack of the Cleveland Fed stated that AI infrastructure demand is contributing to inflation, warning that higher interest rates may be necessary to control it.
- AI is ‘absolutely useless’ at forecasting inflation. This proven model is 12 times more accurate.
A low-tech tool from the Cleveland Fed outperforms generative AI in forecasting inflation, proving to be 12 times more accurate. The AI has struggled to provide reliable forecasts. The Cleveland Fed's model is a consistent and more accurate alternative.