Fed’s Hammack Says Pause in Rate Cuts Is Her Base Case for Now

Federal Reserve Bank of Cleveland President Beth Hammack said monetary policy is in a good place to pause and assess the effects of 75 basis points of rate cuts in the economy during the first quarter.

“Where we are today is my base case that we can stay here for some period of time until we get clearer evidence that either inflation is coming back down to target or the employment side is weakening more materially,” Hammack said in an interview for the Wall Street Journal’s Take On the Week podcast conducted Thursday and aired Sunday.