Central Banks

Fed’s Hammack Says She Sees Two-Sided Risks to Interest Rates

Beth Hammack, president and chief executive officer of the Federal Reserve Bank of Cleveland, during a research conference at the Federal Reserve Bank of Dallas in Dallas, Texas, US, on Friday, Oct. 31, 2025. Three Federal Reserve officials said they did not support the US central bank’s decision to cut interest rates this week, citing inflation that remains too high.Photographer: Desiree Rios/Bloomberg

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By Jonnelle Marte and Maria Eloisa Capurro

March 6, 2026 at 6:30 PM UTC

Federal Reserve Bank of Cleveland President Beth Hammack reiterated that interest rates could be on hold for quite some time, but signaled officials should be ready to respond to other outcomes.

“Under my base case, I think policy should be on hold for quite some time as we see evidence that inflation is coming down and the labor market stabilizes further,” Hammack said Friday in remarks prepared for a conference in New York. “But it’s easy to envision other scenarios, as well, so I see two-sided risks to rates.”