Federal Reserve Bank of Cleveland President Beth Hammack said on Sept. 24 that inflation remains elevated even as U.S. output grows at a solid pace and the labor market stays close to maximum employment. She warned that the inflation outlook is highly uncertain, with risks tilted to the upside, and that prolonged price pressures would make returning inflation to target more challenging and costly. The remarks reinforce a hawkish policy outlook amid supply disruptions, an August CPI reading of 3.4% above the Federal Reserve's 2% target, and market pricing that assigned approximately a 48% probability to two rate hikes in 2026. Markets will monitor upcoming inflation data and Federal Reserve communications for changes in the balance of risks and indications of future policy tightening or a pause. Vera provides live prediction-market analysis and invites users to sign up for its service.