Cleveland Federal Reserve Governor Beth Hammark said that it may take several interest rate hikes to reduce inflation to the 2% target, but she doesn't want to prejudge where the end will be. “Overall, I think a change of 25 basis points may not have much impact on the economy,” Hamak said in an interview on Monday. “So it might take a certain number of times,” but “I don't want to predict in advance what that number will be.”

Cleveland Federal Reserve Governor Beth Hammark said that it may take several interest rate hikes to reduce inflation to the 2% target, but she doesn't want to prejudge where the end will be. “Overall, I think a change of 25 basis points may not have much impact on the economy,” Hamak said in an interview on Monday. “So it might take a certain number of times,” but “I don't want to predict in advance what that number will be.”