Fed's Hammack Says Quarter-Point Rate Move Probably Does Little for Economy
By Jessica Coacci
Cleveland Fed President Beth Hammack said that one quarter-point rate in interest rates move probably won't do a whole lot for the economy when returning inflation to the Fed's 2% target.
Hammack dissented in favor of raising rates at July's Fed meeting--noting she did not see the current policy stance as appropriately restrictive.
"I don't know exactly where we'll end...in general one 25-basis point move probably doesn't do a whole lot for the economy," Hammack said Monday in an interview with Yahoo Finance. "It's probably...some number of movement, but I don't want to prejudge what that number is going to be."
Hammack is a voter this year on the Federal Open Market Committee.
"I think that now is the time for us to start acting," she said.
Write to Jessica Coacci at jessica.coacci@wsj.com
(END) Dow Jones Newswires
August 10, 2026 16:05 ET (20:05 GMT)
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