Fed's Hammack Signals Preference to Hold Rates Steady Until Spring Amid Persistent Inflation Concerns

Federal Reserve official Beth Hammack said on Dec. 21 there is no need to adjust interest rates in the coming months after three consecutive cuts, BlockBeats reports citing The Wall Street Journal's Take On the Week podcast. Hammack opposed recent rate cuts, stating she is more concerned about persistently high inflation than potential labor market weakness. Her baseline expectation is to keep rates at their current level at least until spring, until clearer evidence shows inflation moving back toward the target or more substantial job market softening. While not a voting member on the rate-setting committee this year, she will be one next year.