The Federal Reserve's voting committee next year emphasizes the risk of inflation and opposes further interest rate cuts.

In 2026, Federal Reserve Interest Rate Committee and Cleveland Fed President Haemek stated on Thursday that persistently high inflation levels are not conducive to the Fed lowering interest rates again. She is concerned that monetary policy may not be prepared to deal with current inflation. Haemek said, "After last week's policy meeting, I believe that monetary policy is almost not restrictive, and in my opinion, the reasons for taking further policy action at this time are not clear." Haemek stated that the Fed continues to face inflation pressures above its target, and the current monetary policy setting has almost no restrictive impact on economic growth momentum. She opposed the Fed's decision to lower interest rates last week. Haemek acknowledged issues in the labor market, but also warned that the unemployment rate remains low.