Fed's Hammack: It may be time for the Fed to slow the pace of rate cuts

Fed Hammack said on Friday that it may be time for the Federal Reserve to slow the pace of interest rate cuts. She believes that the Fed's policy rate may not be too much higher than the neutral level. Hammack noted that financial markets expect the Fed to cut rates only once in the next two meetings, and said this expectation is consistent with her view. She said inflation, economic growth and the labour market remain stronger than the Fed expected in September. Hammack's speech was one of the clearest hints in recent statements by Fed officials, suggesting that the Fed's policy stance may no longer be very determined to cool inflation and economic growth.