Fed's Hammack says interest rates likely on hold for some time

NEW YORK, March 6 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said Friday she sees no imminent need to change the stance of monetary policy in ‌an economy where inflation is still “too high.” Given the Fed’s need to balance “elevated” inflation and a “softening” ‌job market, these factors joined with rate cuts done last year leave monetary policy “in a good position” where the impact ​of the central bank interest rate target on the economy is neutral, Hammack said in the text of a ...