Hammack's Stance on Rate Reductions

Federal Reserve Bank of Cleveland President, Beth Hammack, recently indicated that the central bank might be nearing a point where slowing the pace of rate reductions is advisable. This statement was made during her address at The City Club of Cleveland.

Hammack highlighted that the disinflation process has shown signs of slowing down, particularly as recent inflation figures have increased compared to the summer months. She emphasized that the Fed still has significant work ahead to control inflation effectively.

Labor Market and Future Decisions

In addition to discussing inflation, Hammack noted the strength of the U.S. labor market, describing it as "healthy" and more balanced. She also mentioned her open-minded approach to the upcoming December meeting and the subsequent monetary policy decisions by the Fed.