Cleveland Fed's Hammack Projects Stable Interest Rates Until Spring, Citing 3.5%-3.75% Benchmark

On December 22, Beth Hammack, president of the Federal Reserve’s Cleveland branch, said the Fed is unlikely to cut rates before next spring, with the benchmark currently at 3.5%–3.75%, according to BlockBeats and Jin10. Hammack opposed near-term rate cuts, citing persistent inflation, despite discussions of potential 0.75 percentage-point reductions. She added that the economic effects of tariffs should become clearer by spring, making it a better window for policy reassessment.