Jackson Hole: Fed officials warn inflation remains stubborn as symposium opens

As the Jackson Hole economic symposium opens, three Federal Reserve officials warn that inflation remains stubborn and above target, signaling that policy action could still be on the table. KC Fed president Jeffrey Schmid questions how restrictive current rates are, Cleveland Fed president Beth Hammack says now is the time to act to restore credibility, and Chicago Fed president Austan Goolsbee warns inflation could reaccelerate if data don’t improve. With the July PCE price index around 3% and markets weighing potential moves later in 2026, officials highlight data dependence and vigilance on returning inflation to 2%.