Fed's Hammack warns more rate cuts court financial stability risks

By Michael S. Derby (Reuters) -Federal Reserve Bank of Cleveland President Beth Hammack warned Thursday that cutting rates further right now carries a wide range of risks for the economy. Given the persistence ​of inflation running over the Fed’s 2% target, “lowering interest rates to support the ‌labor market risks prolonging this period of elevated inflation, and it could also encourage risk-taking in financial markets,” Hammack said, according ‌to the text of a speech to be presented at a conference h ...