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Cleveland Fed Chief Says Smaller Rate Hikes May Needed

By Drooid · Oct 12, 2026, 11:05 PM UTC · How we work

Summary

Story summary

Federal Reserve Bank of Cleveland President Beth Hammack said tighter monetary policy may be needed to lower inflation.
She prefers smaller, quicker rate moves instead of waiting for larger corrections.
The Fed raised rates in September, its first increase in three years.
CME FedWatch shows a 78 percent chance rates stay unchanged now and an 88 percent chance of a December hike.

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Story summary

Federal Reserve Bank of Cleveland President Beth Hammack said tighter monetary policy may be needed to lower inflation.
She prefers smaller, quicker rate moves instead of waiting for larger corrections.
The Fed raised rates in September, its first increase in three years.
CME FedWatch shows a 78 percent chance rates stay unchanged now and an 88 percent chance of a December hike.