Cleveland Fed's Hammack casts doubt on interest rate cuts amid inflation worries

Cleveland Fed's Hammack casts doubt on interest rate cuts amid inflation worries

In a CNBC interview, the policymaker did not share the market's enthusiasm for a cut.

Cleveland Fed's Hammack casts doubt on interest rate cuts amid inflation worries - Daily news Update

Cleveland Federal Reserve President Beth Hammack said Friday she would be hesitant about lowering interest rates as long as inflation remains a threat. In a CNBC interview, the policymaker did not share the market’s enthusiasm for a cut, sparked after Chair Jerome Powell’s keynote speech earlier in the morning stating that current conditions “may warrant” policy easing. “I heard that the chair is open-minded about what the right stance of policy…