Beth Hammack said the Fed’s statement wrongly suggested the next move could be a rate cut, while her baseline outlook remains for unchanged rates amid Iran war uncertainty and higher prices.
Federal Reserve Bank of Cleveland President Beth Hammack said the Federal Reserve’s statement wrongly implied that the next policy move could be a rate cut. She said her baseline outlook is for interest rates to remain unchanged for an extended period, citing uncertainty linked to the Iran war and higher prices. Her remarks reinforce a cautious, neutral policy stance and push back against expectations of near-term easing.