Fed's Beth Hammack Favors Gradual Rate-Hike Path to Lower Inflation
14 Articles
14 Articles
The president of the County of Cleveland of the Federal Reserve (Fed), Beth Hammack, defended on Thursday the need for a more restrictive monetary policy in the United States and reinforced her concern about inflationary pressures in the country. I believe that it will be necessary to bring monetary policy to a restrictive stance in order to bring inflation back to 2% in due time.
Fed’s Hammack Says Restrictive Rates Needed to Cool Inflation
Federal Reserve Bank of Cleveland President Beth Hammack said interest rates need to be restrictive to bring inflation to the central bank’s target, and more frequent moves can reduce the risk that policy falls behind.
The Economic Times
Times of IndiaFed's Beth Hammack favors gradual rate-hike path to lower inflation
Cleveland's Federal Reserve President Beth Hammack has emphasized the need for additional rate hikes to achieve the target inflation rate of 2%. She proposes implementing smaller, more frequent adjustments to minimize impacts on households and markets. Dissatisfied with the last Fed meeting's outcome, Hammack argues that the current monetary policy lacks sufficient restrictiveness.
Hammack did not specify when he would like the Fed to raise interest rates again, he said he prefers to reach that position through more frequent adjustments.
The president of the Cleveland Federal Reserve considers that inflation remains too high and advocates smaller and more frequent increases in rates. She also argues that cryptocurrencies’ volatility limits her ability to challenge the international role of the dollar.
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