Fed’s Hammack Says She’d Have Preferred No Rate Cut This Week

Federal Reserve Bank of Cleveland President Beth Hammack said she disagreed with a decision to cut interest rates this week, citing ongoing inflation risk.

“I would have preferred to have held rates steady at this meeting,” Hammack said Friday at a conference in Dallas, speaking on a panel with her Atlanta Fed counterpart, Raphael Bostic. “I do think we need to maintain some amount of restriction to help get inflation back down to target.”

Hammack’s comments followed similar remarks from two other officials earlier Friday, who said they disagreed with the Federal Open Market Committee vote Wednesday to cut ...