Federal Reserve's Hammack: Pausing interest rate cuts is my current baseline forecast
Jinse Finance reported that Beth Hammack, President of the Federal Reserve Bank of Cleveland, stated that monetary policy is currently at a good level and that interest rate cuts can be paused to assess the impact of the 75 basis points reduction on the economy. Hammack is currently focused on bringing the inflation rate back to the target level. Economic data received by policymakers showed that the core Consumer Price Index rose by 2.6% year-on-year in November. Hammack said she would not place too much emphasis on any single economic report and hopes to take time before the next meeting to observe broader economic conditions. (Golden Ten Data)
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