Cleveland Fed President Beth Hammack said current policy is not restrictive, inflation is persistent, and the Fed may need to raise rates now. She expects inflation around 3% this year and 2.5% next year at best.
Sentimentbearish 30
Bearish · 30 of 100
Impact60
medium · sector-wide
Confidence90%
high confidence · 20 wires
Eventdeveloping
v20 · alerts feed only
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Hammack: low-rate era was abnormal, inflation near 3%, may need to raise ratesbearish 30 · impact 60
Hammack: low interest rates may have been uncommonbearish 35 · impact 30
Hammack: Interest rates are the Fed's most easily understood toolbearish 40 · impact 10
Hammack: interest rates are Fed's simplest tool to understandneutral 50 · impact 30
Hammack: the economy is currently unrestrictedbearish 35 · impact 30
Hammack: There is not much restriction in the economy right nowbearish 35 · impact 30
Hammack: markets support the Fed but are not a replacementneutral 50 · impact 20
Hammack reiterates markets complement, not substitute, for Fedneutral 50 · impact 10
Fed's Hammack: she does not see restrictive financial conditionsbearish 35 · impact 40
Hammack: fed needs to raise rates now, delaying could cause problemsbearish 30 · impact 60
FED'S HAMMACK SAYS INFLATION MIGHT EASE TO AROUND 2.5% NEXT YEAR 'AT BEST', ADDING THAT SHE GOES INTO EVERY FED MEETING WITH AN 'OPEN MIND' AND IS 'OPEN MINDED' ABOUT THE CADENCE OF MEETING SCHEDULES
Hammack sees inflation easing to around 2.5% next year at bestbearish 35 · impact 40
Hammack: Fed policy not providing restriction for economybearish 35 · impact 30 · this page
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