Fed's Hammack supports maintaining current interest rates, tells NYT it's premature to assess effects of Iran conflict

Fed's Hammack Advocates for Steady Interest Rates Amid Middle East Uncertainty

Beth Hammack, President of the Federal Reserve Bank of Cleveland, stated in a recent interview with the New York Times that it is premature to determine how the ongoing conflict in Iran will affect the economy. She expressed support for keeping interest rates unchanged for an extended period.

Hammack emphasized the need to maintain monetary policy at a level that will help bring inflation back to the target rate, while also considering any possible weakening in the job market. Her comments come as Federal Reserve officials begin to assess the potential short-term risks to U.S. inflation and economic stability stemming from the escalating situation in the Middle East.