Federal Reserve Bank of Cleveland President: "No Rate Cut in September"

JH Kim

Summary

Beth Hammack, President of the Federal Reserve Bank of Cleveland, said there will be no rate cut in September.
President Hammack's remarks are interpreted as blocking the market's expectations for early easing.
She reaffirmed that a premature rate cut is not desirable in a situation where price stability and employment indicators are not sufficiently supported.

On the 21st (local time), according to the economic news account Walter Bloomberg, Beth Hammack, President of the Federal Reserve Bank of Cleveland, stated, "Considering the data so far, there will be no rate cut in September."

President Hammack's statement is interpreted as blocking the market's recent expectations for early easing by the Fed. She reaffirmed her stance that a premature rate cut is not desirable when price stability and employment indicators are not yet sufficiently supported.