Federal Reserve Watch for Aug. 27: FOMC Should Act Now to Lower Inflation, Hammack Says

02:54 PM EDT, 08/27/2026 (MT Newswires) -- Cleveland Fed President Beth Hammack (voter) said in an interview with CNBX that the FOMC should act now to help move inflation back to target, adding that the pain for business and consumers will be greater if the FOMC waits. Recent comments of note: (Aug. 25) Boston Fed President Susan Collins (nonvoter) said that she approved of the FOMC's decision to hold interest rates steady at its most recent meeting but said that monetary policy needs to "be nimble" and that continuing to hold rates steady will require proof that inflation is slowing, with rate hikes possible if that proof is lacking. (Aug. 19) Minutes of the July 28-29 FOMC meeting showed wide support for maintaining rates and to wait for more information before raising them, but there was discussion that the sooner rate hikes are started, the less likely that swift increases will be needed at later meetings. Fed Chair Kevin Warsh presented a suggestion to reduce the number of meetings to eight from the current six, but no decision was made and any changes would not be implemented until after 2026. (Aug. 13) Richmond Fed President Tom Barkin (nonvoter) said that uncertainty remains regarding the path of inflation and whether rate increases will be needed to bring it down to the 2% goal or if will slow on its own. (Aug. 13) Cleveland Fed President Beth Hammack (voter) said that the FOMC should begin the process of raising interest rates now to bring down inflation, saying that recent softer price data have not convinced her that inflation is on a clear path downward.