Fed's Hammack: Low rate era may have been break from norm
TLT•Hammack says ultra-low-rate era may have been abnormal
Federal Reserve Bank of Cleveland President Beth Hammack said Friday that the era of ultra-low rates that has defined many people’s experience of the financial situation may have been an aberration.
Noting the current widespread concerns over the cost of borrowing, Hammack said on Bloomberg’s television channel that “I think when we go back and look at the history, I think what we'll see is that period from 2008 to 2020 was the abnormal part, not this period where we are today.” Hammack also reiterated her view that high inflation calls for Fed rate hikes.
