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Fed's Hammack Warns Further Rate Cuts May Pose Financial Stability Risks

Cleveland Federal Reserve Bank President Beth Hammack said on Nov. 20 that additional rate reductions could introduce broad economic risks, Jin10 reports. Hammack stated that lowering rates to support the labor market might prolong elevated inflation above the Fed's 2% target while potentially encouraging risk-taking in financial markets. She noted financial conditions are "quite accommodative" amid rising stock prices and "loose" credit conditions, explaining further cuts to borrowing costs "could support high-risk lending."
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