Overview
- Beth Hammack said policy should lean against still‑high inflation and described the current stance as only barely restrictive.
- She opposed last week’s quarter‑point cut that lowered the federal funds rate to a 3.75%–4.00% range.
- Hammack prefers keeping rates on the restrictive side of neutral and said raising rates is not her base case for now.
- She could back increases if inflation fails to cool or if labor proves stronger than recent readings, while a sharper jobs slowdown could justify more easing.
- Hammack projected inflation near 3% by year‑end and elevated through 2026, as markets price a December cut that Chair Jerome Powell has said is not assured.