Fed’s Hammack Says Restrictive Rates Needed to Cool Inflation

Federal Reserve Bank of Cleveland President Beth Hammack said on an unspecified date that interest rates need to remain restrictive to bring inflation to the central bank's 2 percent target. Hammack stated that more frequent rate adjustments can reduce the risk that monetary policy lags behind economic conditions. The Federal Reserve has been adjusting rates to address inflation that exceeded its target.

• Bloomberg — Fed’s Hammack Says Restrictive Rates Needed to Cool Inflation

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