Cleveland Federal Reserve President Hammack: I think we may need to pause for a while.

From a policy perspective, the Federal Reserve is in a good position. The Fed's policy setting is at a "neutral" level. It is too early to judge the impact of artificial intelligence on the economy. Inflation expectations have not risen substantially. It is important to bring the inflation rate back to target levels. The balance sheet reduction needs to be orderly. Related article: President of the Federal Reserve Bank of Cleveland: Pause in rate cuts