{
  "data_version": "1",
  "schema": "https://whatledto.com/data",
  "id": "beth-hammack",
  "name": "Beth Hammack",
  "kind": "person",
  "url": "https://whatledto.com/who/beth-hammack",
  "description": "President of the Federal Reserve Bank of Cleveland.",
  "same_as": [
    "https://en.wikipedia.org/wiki/Beth_Hammack"
  ],
  "timelines": [
    {
      "slug": "fed-rate-path-2025-2026",
      "title": "The Fed's Rate Path: From the 2024 Cuts to Warsh's First Meetings",
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026",
      "json": "https://whatledto.com/events/fed-rate-path-2025-2026.json",
      "role": "Cleveland Fed president who dissented against the easing bias in April and for a July 2026 increase, citing the need for restrictive policy.",
      "entries": 4,
      "updated_at": "2026-10-16T02:10:22.232634+00:00"
    }
  ],
  "entries": [
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 2133,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n2133",
      "date": "2026-10-12",
      "date_precision": "day",
      "title": "Hammack says restrictive policy stance remains appropriate",
      "summary": "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.",
      "type": "response",
      "entities": [
        "Beth Hammack",
        "Federal Reserve Bank of Cleveland",
        "Federal Open Market Committee"
      ],
      "parties": [
        "beth-hammack",
        "federal-reserve-bank-of-cleveland",
        "federal-open-market-committee"
      ],
      "sources": [
        {
          "url": "https://www.clevelandfed.org/collections/press-releases/2026/pr-20261012-cleveland-fed-president-hammack-speech",
          "outlet": "Federal Reserve Bank of Cleveland",
          "published": "2026-10-12",
          "quote": "Considering all the inputs that factor into my reaction function, a restrictive monetary policy stance is appropriate to ensure a timely return to 2 percent inflation."
        },
        {
          "url": "https://www.cnbc.com/2026/10/12/beth-hammack-fed-inflation-policy.html",
          "outlet": "CNBC",
          "published": "2026-10-12",
          "quote": "Hammack's comments implied that more interest rate hikes could be on the horizon."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 427,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n427",
      "date": "2026-07-29",
      "date_precision": "day",
      "title": "Fifth straight hold; three regional presidents dissent in favour of a rate increase",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Federal Open Market Committee",
        "Kevin Warsh",
        "Beth Hammack",
        "Neel Kashkari",
        "Lorie Logan"
      ],
      "parties": [
        "federal-open-market-committee",
        "kevin-warsh",
        "beth-hammack",
        "neel-kashkari",
        "lorie-logan"
      ],
      "sources": [
        {
          "url": "https://www.federalreserve.gov/newsevents/pressreleases/monetary20260729a.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-07-29",
          "quote": "Voting against the monetary policy action were Beth M. Hammack, Neel Kashkari, and Lorie K. Logan, who preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting."
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 422,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n422",
      "date": "2026-04-29",
      "date_precision": "day",
      "title": "Four dissents at Powell's last full meeting as chair: one for a cut, three against the easing bias",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Federal Open Market Committee",
        "Jerome Powell",
        "Stephen Miran",
        "Beth Hammack",
        "Neel Kashkari",
        "Lorie Logan"
      ],
      "parties": [
        "federal-open-market-committee",
        "jerome-powell",
        "stephen-miran",
        "beth-hammack",
        "neel-kashkari",
        "lorie-logan"
      ],
      "sources": [
        {
          "url": "https://www.federalreserve.gov/newsevents/pressreleases/monetary20260429a.htm",
          "outlet": "Federal Reserve Board",
          "published": "2026-04-29",
          "quote": "Voting against this action were Stephen I. Miran, who preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting; and Beth M. Hammack, Neel Kashkari, and Lorie K. Logan, who supported maintaining the target range for the federal funds rate but did not support inclusion of an easing bias"
        }
      ]
    },
    {
      "timeline": "fed-rate-path-2025-2026",
      "id": 411,
      "url": "https://whatledto.com/events/fed-rate-path-2025-2026#n411",
      "date": "2024-12-18",
      "date_precision": "day",
      "title": "Third cut of 2024 takes the range to 4.25 to 4.5 percent; projections pencil in only two cuts for 2025",
      "summary": "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.",
      "type": "announcement",
      "entities": [
        "Federal Open Market Committee",
        "Jerome Powell",
        "Beth Hammack"
      ],
      "parties": [
        "federal-open-market-committee",
        "jerome-powell",
        "beth-hammack"
      ],
      "sources": [
        {
          "url": "https://www.federalreserve.gov/newsevents/pressreleases/monetary20241218a.htm",
          "outlet": "Federal Reserve Board",
          "published": "2024-12-18",
          "quote": "In support of its goals, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4-1/4 to 4-1/2 percent."
        }
      ]
    }
  ],
  "often_with": [
    {
      "id": "us-government",
      "name": "U.S. government",
      "url": "https://whatledto.com/who/us-government",
      "json": "https://whatledto.com/who/us-government.json",
      "shared_timelines": 1
    },
    {
      "id": "donald-trump",
      "name": "Donald Trump",
      "url": "https://whatledto.com/who/donald-trump",
      "json": "https://whatledto.com/who/donald-trump.json",
      "shared_timelines": 1
    },
    {
      "id": "freddie-mac",
      "name": "Freddie Mac",
      "url": "https://whatledto.com/who/freddie-mac",
      "json": "https://whatledto.com/who/freddie-mac.json",
      "shared_timelines": 1
    },
    {
      "id": "bureau-of-labor-statistics",
      "name": "Bureau of Labor Statistics",
      "url": "https://whatledto.com/who/bureau-of-labor-statistics",
      "json": "https://whatledto.com/who/bureau-of-labor-statistics.json",
      "shared_timelines": 1
    },
    {
      "id": "bill-pulte",
      "name": "Bill Pulte",
      "url": "https://whatledto.com/who/bill-pulte",
      "json": "https://whatledto.com/who/bill-pulte.json",
      "shared_timelines": 1
    },
    {
      "id": "kevin-warsh",
      "name": "Kevin Warsh",
      "url": "https://whatledto.com/who/kevin-warsh",
      "json": "https://whatledto.com/who/kevin-warsh.json",
      "shared_timelines": 1
    },
    {
      "id": "federal-housing-finance-agency",
      "name": "Federal Housing Finance Agency",
      "url": "https://whatledto.com/who/federal-housing-finance-agency",
      "json": "https://whatledto.com/who/federal-housing-finance-agency.json",
      "shared_timelines": 1
    },
    {
      "id": "federal-reserve",
      "name": "Federal Reserve",
      "url": "https://whatledto.com/who/federal-reserve",
      "json": "https://whatledto.com/who/federal-reserve.json",
      "shared_timelines": 1
    }
  ],
  "license": {
    "holder": "What Led To",
    "terms": "https://whatledto.com/methodology#reuse",
    "summary": "Quote entries with attribution and a link to the entry; do not republish whole timelines or train models on the text."
  }
}