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[Federal Reserve's Hammack: Neutral Interest Rate May Be Higher Than Commonly Expected] Federal Reserve's Hammack stated that the positive inflation data for November might be due to data collection distortions caused by the government shutdown in October and the first half of November, which underestimated price growth. While the Bureau of Labor Statistics reported a 2.7% year-over-year increase in November CPI, the adjusted estimate is closer to 2.9% or 3.0%. Hammack's concern about rate cuts lies in the belief that the neutral interest rate level is higher than commonly assumed, and the economy has the momentum to maintain robust growth next year.