Fed's Hammack tells CNBC rate hikes may be needed to quell high inflation
Key takeaways
- "We've got inflation that's too high and it's been too high for the past five years," Hammack said in an interview on CNBC.
- I think every meeting is a live meeting, and it's important to look at the data and see where that's taking us."
- Hammack also said that while she won't give firm guidance on the path of rates, it is important to tell the public where her "reaction function" is as a way to understand how to think about the monetary policy outlook.
Fed's Hammack tells CNBC rate hikes may be needed to quell high inflation Reuters Tue, June 30, 2026 at 11:27 PM GMT+7 2 min read June 30 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said on Tuesday it remains possible that she'll advocate for higher interest rates if inflation pressures don't moderate.
"We've got inflation that's too high and it's been too high for the past five years," Hammack said in an interview on CNBC. "When I look at policy, if that continues, it may mean that we need higher interest rates to bring inflation back down to target," she said.
Hammack, who is a voting member of the interest-rate-setting Federal Open Market Committee this year, declined to say when the threshold for hiking interest rates might be met, noting, "I keep an open mind walking into every meeting. I think every meeting is a live meeting, and it's important to look at the data and see where that's taking us."