Cleveland Fed's Hammack Advocates for Steady Interest Rates, Rejects Further Cuts
# Incoming Voter on Interest Rate Policy: Cleveland Fed's Hammack Says No More Cuts
Cleveland Federal Reserve President Beth Hammack, an incoming voter on interest rate policy, has firmly indicated that there will be no additional cuts to rates. In her remarks, Hammack emphasized that her expectation is to maintain the current rate for an extended duration.
Hammack stated, "My base case is that we can stay here for some period of time," expressing confidence in the stability of the current interest rates. She clarified that the rates will remain until there is more definitive evidence about either a decline in inflation to the target level or a notable softening in the employment sector.
Hammack also expressed caution regarding the latest economic reports. "I take it with a grain of salt," she noted in reference to last week's consumer data, which might not provide a complete picture for decision-making.
The Cleveland Fed President’s stance reflects a broader approach to maintaining steady interest rates amid ongoing economic evaluations. Her position will influence discussions on monetary policy as the Federal Reserve navigates the complexities of economic indicators.
This report is for informational purposes only and is not financial advice.