Cleveland Fed Chief Warns of Aggressive Rate Hikes
Cleveland Fed President Beth Hammack warned that a deterioration in public inflation expectations could force the central bank to hike interest rates more aggressively. Speaking in New York, she noted that persistent price pressures make monetary policy significantly harder to manage.
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Federal Reserve Bank of Cleveland President Beth Hammack warned Thursday afternoon that the United States central bank may need to accelerate interest rate hikes if public inflation expectations deteriorate. The remarks follow worse-than-expected price pressures reported earlier in the week. The comments arrive just ahead of the quiet period preceding the late-October rate decision.
