Fed’s Hammack Calls for More Rate Hikes, Says Policy Not Restrictive Enough

Cleveland Fed President Beth Hammack adopted a hawkish tone on Monday, stating that the current interest rate is not “meaningfully restricting the economy” and that additional rate hikes are warranted.

The remarks signal a continued push for tighter policy, even as some Fed voices have suggested a pause. Hammack’s comments underscore an ongoing concern that the economy still needs cooling.