Fed’s Hammack Says Restrictive Rates Needed to Cool Inflation

Federal Reserve Bank of Cleveland President Beth Hammack said interest rates need to be restrictive to bring inflation to the central bank’s target, and more frequent moves can reduce the...

By Jonnelle Marte · Bloomberg Markets

Federal Reserve Bank of Cleveland President Beth Hammack said interest rates need to be restrictive to bring inflation to the central bank’s target, and more frequent moves can reduce the risk that policy falls behind.