Fed’s Hammack Supports Wait-and-See Posture on Rates

Federal Reserve Bank of Cleveland President Beth Hammack said she wants to see inflation lowered further before she’d support a cut in interest rates.

“We’re not there yet on the inflation side of the mandate,” Hammack said Monday in an interview with Fox Business Network. “I think it’s important that we wait and see how all the new policies that have been put forward are going to impact inflation.”

Cleveland Fed President Beth Hammack.

Photographer: Brian Kaiser/Bloomberg

The Fed is widely expected to hold interest rates steady again when it meets July 29-30 in Washington. Two policymakers have suggested they might support a cut at that meeting, ...