April 15, 2026

Cleveland Fed President Hammack signals interest rates to remain steady

Cleveland Federal Reserve President Beth Hammack indicated that interest rates will likely remain unchanged for the foreseeable future.
Hammack highlighted the need for patience as the Fed assesses economic data related to inflation and employment risks.
The current federal funds rate is set between 3.5%-3.75%, which Hammack considers a suitable level for monetary policy.
She expressed concerns over inflation pressures due to external factors like the Iran war and tariffs, complicating the Fed's response.