Federal Reserve Bank of Cleveland President Beth Hammack has expressed opposition to interest rate cuts, citing ongoing inflation concerns and the risks of financial market instability. Hammack's remarks align with other regional Fed officials, suggesting a consensus to maintain current rates at the upcoming Federal Open Market Committee (FOMC) meeting. This stance reflects a broader hawkish sentiment within the Fed, impacting market expectations for future rate decisions. The probability of a rate cut by the June 2026 meeting has decreased to 4.5%, down from 6% in the past 24 hours, according to prediction markets. Similarly, the likelihood of a rate cut by September 2026 has dropped to 29.4% from 50% a week ago. Markets are adjusting to the possibility of sustained interest rates amid persistent inflation concerns.