Americans are cutting back, but many bills keep climbing. Now Federal Reserve officials are warning that persistent inflation could become psychologically embedded in the economy. In Episode 312 of The Secret War on Cash, Dean Heskin and Chris Agelastos of Swiss America Trading examine Cleveland Fed President Beth Hammack’s warning about an “inflationary mindset” and her argument for smaller, relatively quick rate adjustments if tighter policy is needed. Dean and Chris also discuss September Fed minutes showing that most policymakers expected another rate increase would likely be appropriate before year-end. The conversation moves from Washington to the household budget: groceries, gasoline, electricity and the frustration of using less energy while paying nearly the same bill. Brought to you by Swiss America Trading. Get your complimentary Secret War on Cash Report:
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https://www.swissamerica.com/social Referenced Articles Higher rates could be needed to avoid ‘inflationary mindset’ taking hold, says Fed’s Hammack
CNBC, October 12, 2026.
CNBC article Fed officials see another hike coming, but no sign as to when, minutes show
CNBC, October 7, 2026.
CNBC article
