Cleveland Fed President Hammack Calls Keeping Rates Steady Reasonable for Now, Warns Inflation Could Prompt Fed Action Soon
Federal Reserve Bank of Cleveland President Beth Hammack said it is reasonable to keep interest rates steady for now because of uncertainty about the economic outlook, but warned that officials may need to act soon if inflation fails to slow. She said she is concerned monetary policy may not be tight enough to lower inflation.
Hammack said the unemployment rate is near full-employment levels and described the job market as roughly in balance. She also said inflation may need help from policy to return to 2%.
From the sources (7 posts)
@deitaoneFED’S HAMMACK: ‘REASONABLE’ TO KEEP RATES STEAY FOR NOW GIVEN UNCERTAINTIES
@deitaoneFED’S HAMMACK: WORRIED MONETARY POLICY MAY NOT BE TIGHT ENOUGH TO LOWER INFLATION
@firstsquawkFED'S HAMMACK SAYS THE FED MIGHT HAVE TO TAKE ACTION 'SOON' IF INFLATION DOESN'T SLOW DOWN.
@firstsquawkFED'S HAMMACK STATES UNEMPLOYMENT RATE IS NEAR FULL EMPLOYMENT LEVELS.
@businessFederal Reserve Bank of Cleveland President Beth Hammack said it’s reasonable to hold interest rates steady for now given uncertainties about the economic outlook, but officials may need to act soon to address elevated inflation. https://t.
@financialjuiceFed's Hammack: Inflation might need help from policy to reach 2%.
@financialjuiceFed's Hammack: The job market is roughly in balance.