Fed’s Hammack says there is time to weigh next rate move

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Cleveland Fed President Beth Hammack said policymakers can wait for more economic data before deciding on the next interest-rate move. She described September’s U.S. jobs report, with payrolls up 29,000 and unemployment at 4.2%, as broadly consistent with recent conditions.

Federal Reserve Bank of Cleveland President Beth Hammack said policymakers still have time to assess incoming economic data before deciding their next move on interest rates, Reuters reported. Hammack told PBS NewsHour that September’s U.S. employment report, which showed payrolls rising by 29,000 and the unemployment rate climbing to 4.2%, was broadly consistent with recent ...