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Fed's Hammack: Base Case Is Maintaining Rates Unchanged for Extended Period

GateNews
IndicesForex
According to PANews, on May 7, Cleveland Federal Reserve President Beth Hammack stated that the Fed's policy statement signals potential rate cuts, which conflicts with her economic outlook. She said: "Our statement holds rates steady, but the signal sent is that the next move is more likely a rate cut. I think that's a bit misleading given my view of current economic conditions." Hammack added that her base case is rates will remain unchanged for "a considerable period of time." She reiterated support for maintaining stable rates but cited higher uncertainty regarding economic prospects and future policy paths.
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