Fed’s Hammack Says Smaller, Frequent Rate Adjustments Preferable

Fed’s Hammack Says Smaller, Frequent Rate Adjustments Preferable Federal Reserve Bank of Cleveland President Beth Hammack said smaller, more frequent adjustments to policy can help inflation expectations remain anchored, but she stopped short of backing a rate increase this month. “When feasible, I generally think it’s preferable to make smaller adjustments, and to do so relatively quickly, rather than to wait and risk needing a larger course correction,” Hammack said Monday in remarks prepared for the annual meeting of the National Association for Business Economics in Cleveland.