Fed's Hammack says it's time for 'some number' of rate hikes

Aug 10 (Reuters) - Cleveland Federal Reserve Bank President Beth Hammack said on Monday she feels the time is now to start raising interest rates gradually so as to avoid needing to raise rates more sharply later.

"I don't think that policy is restrictive. ... Now is the time to act," Hammack told Yahoo Finance. "One 25-basis-point move probably doesn't do a whole lot for the economy, so it's probably some number of movements, but I don't want to prejudge what that number is going to be."