By Sam Meredith

Copyright cnbc

U.S. core inflation was little changed in August, according to data published Friday. The personal consumption expenditures price index posted a 0.3% gain for the month, putting the annual headline inflation rate at 2.7%, the Commerce Department reported late last week.

Excluding food and energy, the more closely followed core PCE price level was 2.9% on an annual basis after rising 0.2% for the month.

Hammack has previously suggested she would be hesitant about lowering interest rates as long as inflation remains a threat.

Indeed, more recently, Federal Reserve Chair Jerome Powell warned of a tricky path ahead on interest rates.

“Near-term risks to inflation are tilted to the upside and risks to employment to the downside — a challenging situation,” Powell said on Sept. 23 during a speech to business leaders in Providence, Rhode Island.

“Two-sided risks mean that there is no risk-free path,” he added.

— CNBC’s Jeff Cox contributed to this report.