Cleveland Federal Reserve President Beth Hammack joins CNBC’s “Squawk Box Europe[1]” on Monday morning to discuss the likelihood of further interest rate cuts and the health of the U.S. economy.
Hammack’s comments come shortly after stronger-than-expected economic data appear to have dented Wall Street’s hopes for sharp monetary easing.
The Fed approved a widely anticipated rate cut[2] earlier this month, lowering its benchmark overnight lending rate by a quarter percentage point to a range of 4.00%-4.25%, and signaled two more were on the way before the end of the year.
A robust batch of economic data since, however, has prompted investors to dial back their expectations[3] for rapid rate cuts.
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References
- ^ Squawk Box Europe (www.cnbc.com)
- ^ widely anticipated rate cut (www.cnbc.com)
- ^ dial back their expectations (www.cnbc.com)