Cleveland Fed's Hammack Says No Rate Change Until Spring, Benchmark at 3.5%–3.75%

Cleveland Fed President Beth Hammack said on Dec. 22 the Fed need not change its 3.5%–3.75% rate until next spring, BlockBeats and Jin10 report. She opposed recent cuts, citing persistent inflation, and noted 0.75 percentage points of reductions. She said tariff effects may be clearer by spring.