[Federal Reserve Official: Inflation May Not Meet Target Before 2028, Policy Needs to Stay Tight] On September 29, Cleveland Fed President Beth Hammack stated that inflation might remain above the 2% target level until 2028, which is also why she opposes rate cuts. She pointed out that the Federal Reserve has failed to meet its inflation target for four consecutive years, and inflation will remain under pressure in the next one to two years, with inflation in the service sector being particularly prominent. Hammack emphasized that current policy needs to maintain a restrictive stance to address persistent inflationary pressures.