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International Business Times
International Business Times
Business

A Fed Member Voted To Hike Rates In July. She Said More Than One Increase Could Be Needed To Tame Inflation.

US Federal Reserve Beth Hammack Inflation Lisa Cook
Cleveland Federal Reserve president Beth Hammack said more than one interest rate hike could be needed to tame inflation. (Credit: Getty Images)

Cleveland Federal Reserve president Beth Hammack said more than one interest rate hike could be needed to tame inflation.

Hammack, who among the minority of FOMC voters who supported increasing rates in the July meeting, told Yahoo Finance that "in general, one 25 basis point move probably doesn't do a whole lot for the economy."

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