US EditionFed’s Hammack says there’s no need to change interest rates for months, WSJ reports
Hammack opposes recent rate cuts and prefers a tighter policy due to inflation concerns; the current 3.5%–3.75% rate is expected to hold until spring, she said.
- On Sunday, Hammack told The Wall Street Journal she saw no need to change the benchmark interest rate range 3.5%–3.75% at least until the spring.
- Speaking earlier this month in Cincinnati, Beth Hammack said she wants to focus on elevated inflation and prefers tighter monetary policy as goods-price inflation may recede with U.S. tariffs digestion.
- Hammack noted, 'My base case is that we can stay here for some period of time, until we get clearer evidence that either inflation is coming back down to target or the employment side is weakening more materially,' as she emphasized no rate changes are needed for months, citing inflation concerns.
- Hammack will be a voting FOMC member next year, and she opposed recent rate cuts due to concerns over elevated inflation rather than labor-market fragility.
- On tariff timing, Beth Hammack cautioned November consumer price index 2.7% likely understated 12-month growth due to data distortions, and tariff pass-through on goods prices impacts inflation assessment.
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20 Articles
Fed's Hammack Says Pause in Rate Cuts Is Her Base Case for Now
(Bloomberg) — Federal Reserve Bank of Cleveland President Beth Hammack said monetary policy is in a good place to pause and assess the effects of 75 basis points of rate cuts in the economy during the first quarter.
Fed's Beth Hammack Urges Interest Rates Stability Amid Inflation Concerns
Federal Reserve Bank of Cleveland's President, Beth Hammack, advises maintaining current interest rates for several months citing concerns over inflation. Despite recent rate cuts to combat potential labor-market fragility, Hammack emphasizes caution until inflation stabilizes or significant employment shifts occur, as per a Wall Street Journal report.
Fed's Hammack signals holding rates steady for months, WSJ reports
Federal Reserve Bank of Cleveland President Beth Hammack said she saw no need to change U.S. interest rates for months ahead after the central bank cut borrowing costs at its last three meetings, the Wall Street Journal reported on Sunday.
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