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Fed's Hammack would prefer tighter policy given too high inflation
Federal Reserve Bank of Cleveland President Beth Hammack said Friday that given her own take on the economy she would prefer monetary policy to be tighter than it is currently. The Fed’s rate cut this week along with past easings this year has interest rate policy “right around a neutral” level, Hammack said at an event in Cincinnati. “I would prefer to be on a slightly more restrictive stance” to help put more pressure on inflation levels that are too high, she said. Hammack’s comments appear to suggest that had she had a vote at this week’s interest rate setting Federal Open Market Committee meeting, ... (full story)
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