Cleveland Fed's Hammack: It will take more than one interest rate hike to bring down inflation
Federal Reserve officials are signaling that multiple interest rate hikes may be necessary to control inflation.
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Source diversity sample: finance.yahoo.com · TradingView · Yahoo Finance · Fox Business · qz.com · tradingview.com · American Banker · bloomberg.com.
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Where it stands
Federal Reserve officials have indicated that a single interest rate hike will not be sufficient to control inflation. Cleveland Fed President Beth Hammack stated that multiple rate hikes may be needed.
Hammack's comments come amid rising mortgage rates, which hit 6.69% according to Yahoo Finance. The Cleveland Fed's Hammack has not specified the exact number of rate hikes required, but has indicated that more than one will be necessary.
The Fed's stance on rate hikes follows a weak jobs report, which has not deterred Hammack's support for continued rate increases.
Synthesized by Archynetys from the headlines below under a strict no-invention contract. ✓ fact-checked: unsupported claims removed (83% supported) Updated 14h ago.
Who reported it (9)
- Cleveland Fed's Beth Hammack says multiple rate hikes needed finance.yahoo.com · 16h ago
- Fed's Hammack: Now is the time to bring more restraint into policy TradingView · 16h ago
- ‘My primary concern is inflation’: Fed’s Schmid pushes rates higher as mortgages hit 6.69%. Make high rates work for you Yahoo Finance · 16h ago
- Fed’s Hammack says multiple rate hikes may be needed to tame inflation Fox Business · 16h ago
- Cleveland Fed's Beth Hammack says multiple rate hikes needed qz.com · 1d ago
- RECAPPING: FED'S HAMMACK: 25 BASIS POINT RATE HIKE WON'T DO A LOT FOR ECONOMY; PROBABLY TO NEED SOME NUMBER OF RATE MOVES; WON'T PREJUDGE HOW MANY NOW tradingview.com · 1d ago
- Fed's Hammack still favors hikes after weak jobs report American Banker · 1d ago
- Fed’s Hammack Says ‘Some Number’ of Rate Hikes May Be Needed bloomberg.com · 1d ago
- Cleveland Fed's Hammack: It will take more than one interest rate hike to bring down inflation Yahoo Finance · 1d ago
Answered
Who is Beth Hammack?
Beth Hammack is the President of the Federal Reserve Bank of Cleveland.
What is the current mortgage rate?
According to Yahoo Finance, the current mortgage rate is 6.69%.
Has the Fed specified the number of rate hikes needed?
The Fed has not specified the exact number of rate hikes required, but has indicated that more than one will be necessary.
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