Fed's Hammack reiterates it's time for central bank to raise rates
SPY•Hammack says inflation argues for higher rates
Aug. 27 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said Thursday worries about persistently high inflation continue to argue in favor of the central bank raising interest rates.
“We've got a lot of time before our next meeting, so I don't want to prejudge anything,” Hammack said in a CNBC interview. “But I believe now is the time to act” given inflation’s continued trend above the 2% target, she said. Hammack dissented in favor of an interest rate increase at the Fed's late July policy meeting.
