Beth Hammack
President of the Federal Reserve Bank of Cleveland.
Role in each timeline
- The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
Cleveland Fed president who dissented against the easing bias in April and for a July 2026 increase, citing the need for restrictive policy.
Beth Hammack across every timeline
Every dated entry that names Beth Hammack, from all 1 timeline, newest first.
20263 entries
- Hammack says restrictive policy stance remains appropriate Response
Beth Hammack said a restrictive monetary-policy stance was appropriate to return inflation to 2 percent. CNBC reported that her comments implied further interest-rate increases could occur.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Fifth straight hold; three regional presidents dissent in favour of a rate increase Announcement
The FOMC voted 9 to 3 to keep the range at 3.5 to 3.75 percent, with Hammack, Kashkari and Logan preferring a quarter-point increase, the first dissents for a hike since 2019 and a sign the debate under Warsh had flipped from when to cut to whether to tighten. Inflation remained elevated relative to target and core PCE was running near 3.3 percent.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings - Four dissents at Powell's last full meeting as chair: one for a cut, three against the easing bias Announcement
The FOMC held for a third meeting, describing inflation as elevated in part because of global energy prices. Miran wanted a cut, while Beth Hammack, Neel Kashkari and Lorie Logan supported holding but objected to the statement's easing bias, the widest split under Powell. The Senate Banking Committee had advanced Warsh's nomination on a party-line vote the same day.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings
20241 entry
- Third cut of 2024 takes the range to 4.25 to 4.5 percent; projections pencil in only two cuts for 2025 Announcement
The FOMC cut by a quarter point for the third consecutive meeting, but the new projections showed just two cuts in 2025 instead of four and Cleveland's Beth Hammack dissented for no change. Markets fell sharply and the ten-year yield rose; the range would then stay unchanged for nine months as tariffs clouded the inflation outlook.
on The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings