Fed's Hammack says holding interest rates steady remains reasonable
Federal Reserve Bank of Cleveland President Beth Hammack said on Friday that it remains reasonable to keep interest rates steady for now, but she warned that if recent economic trends continue, policymakers may soon need to take action to address persistently high inflation.
Speaking in a post published on LinkedIn following the release of the latest US employment report, Hammack noted that current labor market conditions continue to support the Federal Reserve’s (Fed) wait-and-see approach, while emphasizing that inflation risks remain a key concern.
Her hawkish remarks further boosted demand for the US Dollar, earlier supported by a better-than-anticipated Nonfarm Payrolls (NFP) report.
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