Federal Reserve's Hammack: No need for rate cuts in the coming months, more concerned about persistently high inflation
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Federal Reserve's Hammack: No need for rate cuts in the coming months, more concerned about persistently high inflation
According to Jinshi, Federal Reserve's Hammack said that after three consecutive rate cuts in the past three meetings, there is no need to adjust interest rates over the next few months. Hammack opposed recent rate cuts because she is more concerned about persistently high inflation than potential labor market weakness. Hammack is not a voting member of the rate-setting committee this year but will become one next year. "My baseline expectation is that we can hold rates at their current level for a period of time—at least through the spring—until we get clearer evidence that either inflation is moving back toward target or the labor market shows more meaningful softness," she said Thursday in an interview with The Wall Street Journal's Take On the Week podcast.
Navigating Web3 tides with focused insightsTechFlow, December 21 — According to Jinshi News, Federal Reserve official Hammack stated that after three consecutive rate cuts in the past meetings, there is no need to adjust interest rates in the coming months. Hammack opposed recent rate cuts, as she is more concerned about persistently high inflation than potential labor market weakness. Although Hammack is not a voting member of the rate-setting committee this year, she will become one next year.
"My baseline expectation is that we can hold rates at their current level for a period of time—at least through the spring—until we get clearer evidence that either inflation is moving back toward target or the labor market shows more substantial softening," she said Thursday in an interview with The Wall Street Journal's Take On the Week podcast.
