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The Cleveland Fed president dissented at last month's policy meeting and says current rates are not meaningfully restricting the economy
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Cleveland Federal Reserve President Beth Hammack said Monday that more than one interest rate increase will likely be needed to bring inflation back under control, warning that the central bank should begin acting now before the problem becomes harder to resolve.
"I would say in general, one 25 basis point move probably doesn't do a whole lot for the economy," Hammack told Yahoo Finance in an interview. "So it's probably some number of [movements]. But I don't want to prejudge what that number is going to be."
