Fed's Hammack backs more hikes but says "I don't think we're behind the curve today"

Cleveland Fed President Beth Hammack repeated her call for a restrictive stance on Nov. 12, while favoring gradual moves over the bigger step some colleagues have floated.

In this brief: 3 sections 1 min read

- "we need to move to a restrictive stance of policy"
- Gradual moves are "less disruptive to the overall economy than moving in sharper, more aggressive movements"
- "I don't think we're behind the curve today."
- On her views: "Those are not promises. Those are not commitments."
- The Fed hiked a quarter point in September and held in July and October; Hammack dissented at both holds.
- Reuters says a quarter-point hike is widely expected in December.
- Governor Waller has said a half-point hike should be considered after a hotter October inflation report.
- Fed officials are discussing how fast to raise rates, not whether to cut, which supports current high-yield savings and CD yields. Nothing is decided until the Dec. 8-9 meeting.

Read full analysis on kitco.com

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